On the morning of 25/11, gold bar prices in Vietnam surged significantly, with major brands raising their selling prices by 2,5 million dong. This increase pushed the price of gold bars to nearly 153 million dong per tael.

Saigon Jewelry Company (SJC) listed gold bar prices at 150,9 - 152,9 million dong per tael. The difference between the buying and selling prices remained two million dong. Other prominent retailers, Doji and PNJ, quoted similar prices for the precious metal. Bao Tin Minh Chau also matched the selling prices of other brands but offered a higher buying price, around 151,4 - 152,9 million dong, an increase of 500,000 dong.

The price hike extended to plain gold rings, with SJC increasing their price by an additional 2,5 million dong per tael, reaching 148,5 - 151 million dong. PNJ and Doji listed this item at 148,7 - 151,7 million dong. Bao Tin Minh Chau's round plain rings continued to command the highest prices among brands, listed at 249,9 - 152,9 million dong per tael.

The upward trend in domestic gold prices mirrors the rally in the international market. At the close of trading on 24/11, world spot gold climbed by 70 USD, reaching 4,134 USD an ounce. The momentum continued on the morning of 25/11, with prices momentarily touching 4,146 USD.

Converted at the Vietcombank exchange rate, world gold is equivalent to 131,9 million dong per tael, creating a difference of 21 million dong compared to domestic prices. This market improvement is largely attributed to investor expectations that the US Federal Reserve (Fed) will cut interest rates next month.

In line with gold, domestic silver ingot and silver bar prices also increased. Phu Quy traded these items at 1,96 - 2,03 million dong per tael, a 3% rise compared to yesterday. Sacombank-SBJ listed silver at 1,95 - 2,01 million dong.

Trong Hieu