Vietnamese Gold Prices Reach New Highs as World Market Continues Upward Trend

The price of gold in Vietnam is continuing its upward trend, with SJC gold bar prices listed between 143-146 million VND/tael (buying - selling) by several major jewelers. This represents an increase of 600,000 VND/tael in both buying and selling directions compared to the previous trading session closing.

The difference between buying and selling prices remains at 3 million VND/tael for Phu Quy and Doji jewelers, while Bao Tin Minh Chau lists a slightly smaller difference of 3.1 million VND/tael.

In terms of gold rings, the price is listed between 143-146.4 million VND/tael (buying - selling) by Phu Quy Jewelry Group, with an increase of 900,000 VND/tael in both directions. DOJI Group lists a similar price range but with a slightly higher buying and selling difference of 4 million VND/tael.

The world gold price is also on the rise, recorded at around 4,347.7 USD/ounce as of 9:15 am, up 32.1 USD/ounce from the previous day. This upward trend is expected to continue due to strong oil prices and rising US Treasury bond yields.

Economic experts surveyed by Bloomberg are more cautious in their predictions, with only 13 out of 48 experts predicting a Fed interest rate hike. Senior commodity broker at StoneX Group expects that precious metal prices will not fall deeper as interest rates may not increase significantly either.