Gold price increased by 300,000 VND/ounce.
On the morning of January 22nd, gold prices in the Asian market surged to $1,692 per ounce, reaching their highest level in four weeks, causing domestic gold prices to rise sharply by nearly 300,000 VND per tael.
Global gold prices rose, supported by strong physical gold buying from India.
Domestic gold prices rose rapidly but fell slowly, widening the price difference compared to the world market to 3.5 million VND/ounce.
This morning, SJC gold bars were bought at 45.83 million VND/ounce and sold at 46.13 million VND/ounce. Bao Tin Minh Chau gold bars in Hanoi were bought at 44.85 million VND/ounce and sold at 45.10 million VND/ounce.
The price of gold rings is currently rising in line with gold bars. Accordingly, SJC gold rings are being bought at 4.433 million VND/ounce and sold at 4.463 million VND/ounce. PNJ gold rings are being bought at 4.432 million VND/ounce and sold at 4.462 million VND/ounce. Bao Tin Minh Chau plain gold rings are being bought at 4.36 million VND/ounce and sold at 4.385 million VND/ounce.
According to Phu Nhuan Jewelry Company, the gold market has recently been active only in terms of price, while the trading volume has been low. Domestic prices have been trending upwards due to limited supply and hoarding, with more buyers than sellers, which is the main reason affecting gold prices, but the trading volume has decreased.
Meanwhile, according to technical analysts, the price of gold is currently fluctuating around $1,700 per ounce. If it breaks above $1,700, the price of gold will have the momentum to rise higher. Recently, the price of gold has been trending upwards in Asian trading sessions, supported by strong physical gold buying from China and India.
According to Tuoi Tre - TH
