On the morning of 5/9, gold bar prices continued to rise across various brands. Saigon Jewelry Company (SJC) traded gold at 132.9 - 134.4 million VND per tael, a 500,000 VND increase from the previous day and the highest price to date.

VietinBank, Bao Tin Minh Chau, DOJI, and PNJ listed gold bars at similar prices to SJC. The buy-sell spread remained at 1.5 million VND per tael.

SJC also increased the price of plain gold rings by 500,000 VND compared to yesterday, listing them at 126.7 - 129.2 million VND per tael. Bao Tin Minh Chau listed them at 126.5 - 129.5 million VND, while DOJI traded them at 126.5 - 129.9 million VND.

Domestic gold prices continued to mirror global trends. During this morning's trading session, the international spot price rose by over 6 USD, reaching 3,551 USD per ounce. Converted at Vietcombank's selling exchange rate, the global gold price is equivalent to 113.5 million VND per tael, 20.9 million VND lower than domestic gold bars.

In an interview with Kitco News, Aakash Doshi, Head of Gold Strategy at State Street Investment Management, stated that gold could continue to rise, potentially reaching 4,000 USD per ounce next year.

Doshi noted a shift in the market, with demand from central banks, which has dominated for some time, giving way to investor inflows. He believes economic uncertainty and the risk of increasing inflation are driving demand for highly liquid alternative assets like gold.

This trend will soon be reflected in gold-backed exchange-traded funds (ETFs). "This year is the time for gold ETFs. Financial flows are catching up with the physical gold environment, which has been very active for many years," Doshi commented.

Trong Hieu