On the morning of 23/2, Saigon Jewelry Company (SJC) listed gold bar prices at 181,6 - 184,6 million dong per tael, marking an increase of 3,6 million dong compared to before the holiday. Other prominent brands made similar adjustments to their pricing.
Plain gold rings also experienced a price surge, mirroring the increase in gold bars, to 181,1 - 184,1 million dong per tael. PNJ and Doji traded this item 100.000 dong higher than SJC. Meanwhile, plain round rings at Bao Tin Minh Chau and Bao Tin Manh Hai were traded around 181,6 - 184,6 million dong per tael.
Today, in Hanoi, on the first workday after the holiday, many residents queued in long lines in front of famous gold brands, including: Bao Tin Minh Chau, Bao Tin Manh Hai, and Phu Quy, all eager to purchase gold.
Ms. Thanh Hoa, 42, a freelancer, stated she had been at a gold store on Tran Nhan Tong street since 6h am to buy gold. She had discussed with her children and agreed to use their lucky money to purchase gold, accumulating it for their future. "My children entrusted their money to me for management, so I hope to buy one to two chi (a unit of gold weight, approx. 3,75 grams) to save for their future", Ms. Hoa said.
Hoang Mai, 23, an office worker, shared her intention to use her Tet bonus to buy gold. "When I have money in my account, I often buy many unnecessary items, so I decided to buy gold to save", Mai stated.
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People queuing in front of a gold shop on Tran Nhan Tong street, Hanoi on the morning of 23/2. Photo: Trong Hieu
Domestic gold prices rose in line with international upward trends. As of 10h today, global spot gold prices increased by over 68 USD, reaching 5.174 USD per ounce. Converted at Vietcombank's exchange rate, global gold was equivalent to over 163 million dong per tael, a difference of 21 million dong compared to domestic prices. This marks a decrease from the 23 million dong gap observed before the holiday.
Many experts forecast that the price of this precious metal will continue to rise this week. Adrian Day, President of Adrian Day Asset Management, affirmed that prices had bottomed out from the sell-off at the end of January and are now recovering. This expert also noted that investors would not sell before the end of this week, amid ongoing tensions between the US and Iran.
Domestic silver bar and ingot prices also increased by 3,3% today. Phu Quy Gold Investment Joint Stock Company listed this item at 3,25 - 3,35 million dong per tael. Converted to kilograms, silver ingot prices were 86,8 - 89,5 million dong.
Ancarat also traded this metal similarly to Phu Quy, while at Sacombank - SBJ, it was priced at 3,58 - 3,68 million dong per tael.
Trong Hieu
