Global Gold Prices Recover from Interest Rate Hike, Domestic Prices Still Soar

The global gold market has seen a recovery in prices following the US Federal Reserve's decision to raise interest rates. Despite this, domestic gold prices have decreased by 4.6% compared to the beginning of the year, but still recorded a growth of 10.2% over the past year.

According to data from September 20th, the world gold price is currently pegged at $4,424.9 USD/ounce, equivalent to approximately VND 140.26 million per tael when converted using the current exchange rate. The domestic gold price is about VND 5.5 million per tael higher than the world gold price.

The gap between domestic and international gold prices has narrowed to 5.5 million VND/ounce. Saigon Jewelry Company (SJC) listed the buying price at 142.8 million VND/ounce and the selling price at 145.8 million VND/ounce for 1-ounce bars.