On the morning of 13/3, Saigon Jewelry Company (SJC) listed gold bar prices at 181,8 - 184,8 million VND, a decrease of 1,5 million VND compared to yesterday's closing. Other brands also listed similar gold bar prices.

This morning, SJC reduced plain gold ring prices to 181,5 - 184,5 million VND. Concurrently, Mi Hong lowered plain gold ring prices to 181,8 - 184,8 million VND. DOJI Group listed plain gold rings at 181,3 - 184,3 million VND.

In the international market, spot gold prices fluctuated this week around 5,100 - 5,200 USD per ounce. At 9:30 AM Hanoi time, global gold traded around 5,120 USD per ounce, equivalent to 162,5 million VND when converted at Vietcombank's selling exchange rate. The premium for domestic gold over global prices remained high at 22 million VND per luong.

Domestic silver prices also traded within a narrow range last week. Major brands bought and sold silver bars domestically in the range of 3,1 - 3,3 million VND per luong, equivalent to 84,8 - 87,5 million VND per kg.

In the foreign exchange market, official USD prices showed a slight upward trend. This morning, Vietcombank listed USD at 26,048 - 26,318 VND, an increase of 7 VND per USD compared to the beginning of the week. US dollar prices on the black market traded around 27,150 - 27,190 VND per USD.

Gold prices recorded a decline after the Middle East conflict erupted. This, according to experts, is unusual because gold typically rises during political tensions. However, this can be explained by investors' tendency to shift towards holding USD for portfolio reallocation.

According to UOB Bank and experts from the World Gold Council, gold prices face short-term pressure as the USD strengthens, but the outlook for the precious metal in the medium and long term remains positive.

Quynh Trang