On the morning of 14/1, Saigon Jewelry Company (SJC) announced a significant increase in gold bar prices, rising by 900,000 dong compared to yesterday to reach 160.9 - 162.9 million dong per tael. This marks the highest level the precious metal has ever reached. Other major brands made similar adjustments.

Plain gold rings also saw a similar price surge, nearing 160 million dong per tael. At SJC, prices for this type of gold were around 157.4 - 159.9 million dong. PNJ and Doji traded plain gold rings between 157 - 160 million dong, while Bao Tin Minh Chau listed them at 159 - 162.9 million dong per tael, the highest among brands.

The domestic gold price hike reflects a rise in international markets. Global spot gold is currently trading at 4,620 USD per ounce. When converted using Vietcombank's exchange rate, global gold is equivalent to 147 million dong per tael, creating a difference of nearly 17 million dong compared to domestic prices.

Market sentiment remains positive due to favorable US inflation data, which has led investors to anticipate that the US Federal Reserve (Fed) may continue to cut interest rates in the future. The US consumer price index (CPI) increased by 0.2% month-over-month and 2.6% year-over-year. These figures were lower than analysts' respective forecasts of 0.3% and 2.7%.

Silver also experienced an upward trend, with domestic silver bars and ingots increasing by 5%. Phu Quy Gold Investment Joint Stock Company listed silver at 3.37 - 3.48 million dong per tael, and Sacombank - SBJ at 3.38 - 3.47 million dong.

By Trong Hieu