On the morning of 1/4, Saigon Jewelry Company (SJC) listed gold prices at 175 - 178 million dong per tael. Since the beginning of the week, the precious metal's price has increased by 5,2 million dong, though it remains about 13 million dong lower than the peak set on 2/3.

SJC also raised the price of plain rings by 3,1 million dong, reaching 174,8 - 177,8 million dong. Bao Tin Minh Chau traded this item 300,000 dong lower than SJC, at 174,5 - 177,5 million dong. Meanwhile, PNJ and DOJI traded plain rings around 175 - 178 million dong.

Domestic gold prices moved upward in line with international market developments. At the close of trading on 31/3, each ounce of world spot gold increased by 157 USD to 4,667 USD per ounce. This morning, the precious metal continued its ascent, currently reaching 4,680 USD. Converted at Vietcombank's exchange rate, world gold is equivalent to 149 million dong per tael, a difference of 29 million dong compared to domestic prices.

Peter Grant, Vice President of Zaner Metals, noted that a weaker USD makes gold less expensive for buyers using other currencies. Additionally, Grant believes investors anticipate de-escalation of Middle East tensions, driving up the price of the precious metal.

Domestic silver bar and ingot prices also rose by over 2% compared to late yesterday. Phu Quy listed this item at 2,79 - 2,88 million dong per tael, equivalent to 74,5 - 76,8 million dong per kg. Ancarat traded silver ingots around 2,77 - 2,86 million dong, while at Sacombank - SBJ it was 2,8 - 2,9 million dong.

Trong Hieu