On the 28th day of the Lunar New Year, gold prices surged to 37 million VND per tael.

At the opening of trading on the last working day of the Year of the Monkey, domestic gold prices surged by 70-120 thousand VND per tael, approaching the 37 million VND per tael mark.

Illustrative image. Source: Internet.

SJC Gold Trading Company listed the price of gold bars at 36.55 – 36.98 million VND/ounce (buying price – selling price), an increase of 100,000 VND/ounce compared to the end of yesterday's trading session. Simultaneously, the difference between the buying and selling price has widened to 400,000 VND/ounce.

BTMC Gold Trading Company listed gold at 36.78 - 36.86 million VND/ounce, an increase of 120,000 VND/ounce. DOJI Gold Trading Group listed gold at 36.81 - 36.96 million VND/ounce, an increase of 70,000 VND/ounce.

Since last weekend, gold prices have been continuously rising, increasing by approximately 300,000 VND per tael. Interestingly, right before the Lunar New Year, domestic gold businesses have observed a rather sluggish demand for gold bars, primarily consisting of small-scale transactions and purchases of jewelry as gifts, or products with feng shui and spiritual significance.

On the global market, gold prices fell yesterday after two previous sessions of gains that had pushed prices to a nearly 10-week high.

Gold futures for February delivery fell $4.8, or 0.4%, to close at $1,210.8 per ounce on the Comex at the New York Mercantile Exchange.

US President Donald Trump decided to officially withdraw the US from the Trans-Pacific Partnership (TPP) trade agreement and simultaneously imposed increased border taxes on businesses with factories located abroad; meanwhile, the stable low level of the US dollar index, causing investors to return to the stock market, is a factor contributing to the decline in gold prices.

In the Asian market, gold is currently trading around $1,208 per ounce. This is equivalent to approximately 32.9 million VND per tael, meaning domestic gold prices are currently about 4.08 million VND per tael higher than world prices.

According to Cafe.f