Domestic gold and silver prices soared on 29/11, reaching unprecedented highs. Gold bar prices, in particular, surged by 700,000 dong per tael to nearly 155 million dong, while silver also hit a record close to 2,2 million dong per tael.

Saigon Jewelry Company (SJC) listed gold bars at 152,9 - 154,9 million dong per tael, an increase of 700,000 dong compared to yesterday. Bao Tin Minh Chau offered gold bars at 153,4 - 154,9 million dong per tael.

Plain gold rings also saw significant gains. SJC's plain gold rings rose by 1,2 million dong per tael, reaching 150,6 - 153,1 million dong. DOJI Group listed plain rings at 151 - 154 million dong, Phu Nhuan Jewelry Company (PNJ) at 150,9 - 153,9 million dong, and Bao Tin Minh Chau at 151,3 - 154,3 million dong.

In the broader precious metals market, domestic silver bar and bullion prices also reached new highs this morning. Phu Quy Gold Investment Joint Stock Company reported silver prices up nearly 6% since late yesterday, to 2,13 - 2,2 million dong per tael. Sacombank-SBJ raised its silver bar prices to 2 - 2,06 million dong per tael.

Globally, spot gold prices surged, reaching a two-week high, though remaining over 100 USD per ounce below their previous peak. This rally is driven by expectations that the US Federal Reserve (Fed) will cut interest rates next month.

At the close of the week, the precious metal was priced at 4,218 USD per ounce. Converted at Vietcombank's selling rate, this is equivalent to 134,8 million dong per tael. The difference between domestic and international gold bar prices currently stands at 20,7 million dong per tael.

Quynh Trang