On the morning of 5/1, Saigon Jewelry Company (SJC) listed gold bar prices at 154,2 - 156,2 million dong, an increase of 3,4 million dong per tael compared to late last week. This price is 3,5 million dong lower than the peak of nearly 160 million dong per tael, which was established on 27/12.

Plain gold rings also saw an increase of over 3 million dong per tael this morning, reaching 149,1 - 152,1 million dong. DOJI Gold and Gems Group listed plain gold rings at 151 - 154 million dong per tael. Meanwhile, Bao Tin Minh Chau's plain gold rings reached 153,7 - 156,7 million dong, and Mi Hong traded them at 155 - 156,2 million dong this morning.

Jewelry gold displayed in a store. Photo: Hoang Giang

On the international market, gold increased by nearly 80 USD per ounce during the first trading day of the week, reaching 4,410 USD. Converted at Vietcombank's selling exchange rate, the global gold price is equivalent to 140,3 million dong per tael. The disparity between global and domestic gold prices remains around 16 million dong per tael.

Domestic silver prices also rose by 4%. Phu Quy Gold Investment Joint Stock Company listed silver bars at 2,85 - 2,94 million dong per tael. Sacombank - SBJ Company announced silver buying and selling prices at 2,89 - 2,96 million dong.

Analysts attribute the rebound in gold and silver prices partly to investors seeking safe-haven assets following the US attack on Venezuela and the arrest of President Nicolas Maduro and his wife on 3/1. Last year, gold prices increased by over 60%, while silver prices surged by 160%, partly due to global geopolitical instability.

Quynh Trang