Hanoi (VNS/VNA) - On April 22, the price of SJC gold bars continued to rise by 4.5 million VND (173.7 USD) per tael, while plain gold rings increased by 3.5 million VND from the previous day.
At 10am, Saigon Jewelry Company (SJC) listed gold bar prices at 120.5-122.5 million VND (4,688-4,767 USD) per tael. This marked an increase of 4.5 million VND in buying and selling prices compared to April 21.
A tael is equivalent to 1.2 ounces.
Other gold retailers, including PNJ and Bao Tin Minh Chau, also adjusted their gold prices in line with SJC.
With this adjustment, gold bars reached a new all-time high. The price gap between buying and selling remained at 2 million VND.
SJC listed plain gold ring prices at 116.5-119.5 million VND per tael.
Bao Tin Minh Chau also raised prices for this item to 119.5-122.5 million VND per tael.
The price gap between buying and selling plain gold rings is maintained at 2.5-3 million VND per tael by retailers.
At 9.30am, Bao Tin Minh Chau’s two gold stores on Tran Nhan Tong street were packed with people lining up to buy gold.
Each customer was allowed to buy only one mace (one-tenth of a tael) per transaction.
Staff reported that around 200 queue numbers had already been distributed at that point.
Domestic gold prices surged immediately following a new record high in the global gold market.
By the close of trading on April 21, the global spot gold price had jumped to 3,423 USD per ounce.
In the morning session of April 22, prices continued climbing, reaching a new all-time high of 3,448 USD per ounce.
Gold prices are rising due to a weakening US dollar and growing demand for safe-haven assets amid escalating trade tensions between the US and China.
Analysts say volatile tariff measures ⭕and ongoing trade disputes are fuelling capital inflows into gold, especially in Asia’s retail markets./.
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