Domestic gold prices increased simultaneously
At the end of the trading session on April 9, the price of SJC gold bars was listed by large enterprises at 99.7-101.9 million VND/tael (buy - sell), an increase of 2.3 million VND in both directions compared to the opening session.
The price of plain gold rings is listed at 99.5-101.7 million VND/tael (buy - sell), an increase of 2.2 million VND in both buying and selling.
At some private brands, the price of plain round gold rings is listed at over 102 million VND/tael for sale.
Domestic gold prices increased in the context of the world precious metal price increasing by more than 88 USD, reaching 3,070 USD/ounce. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 97 million VND/tael.
Concerns about global trade tensions since US President Donald Trump announced reciprocal tariffs on April 2 have raised fears of an economic recession and prompted investors to seek safe-haven assets such as gold.
In a post on social network Truth, US President Donald Trump announced raising tariffs on China to 125%.
World gold prices increase sharply (Photo: Tien Tuan).
Gold prices have risen nearly 17% year-to-date, driven by rising demand for safe-haven assets amid geopolitical and economic uncertainty, strong central bank demand and rising inflows into exchange-traded funds.
Investors will pay close attention to the upcoming meeting of the US Federal Reserve (Fed) to look for clear signals on the path of interest rates.
Markets are currently betting that the Fed will cut rates at least four times this year, each by 25 basis points (0.25%). The likelihood of a rate cut as early as the May meeting is high.
Record high bank USD
At the end of April 9, the State Bank announced the central exchange rate at 24,936 VND, an increase of 38 VND compared to yesterday. Thus, after the first 2 sessions of this week, the central exchange rate increased by a total of 50 VND. With a 5% margin compared to the central exchange rate, commercial banks are allowed to buy and sell USD in the range of 23,689 - 26,182 VND.
Banks continued to sharply increase the buying and selling prices of USD, pushing the greenback to a record high. Major banks listed the USD price at 25,790-26,180 VND (buy - sell), an increase of more than 200 VND in the first two sessions of this week. Joint stock banks listed the exchange rate at 25,780-26,130 VND (buy - sell). Compared to the beginning of the year, each USD at banks is about 600 VND higher, equivalent to more than 2.5%.
The official USD price is currently not significantly different from the free market. Some foreign exchange points buy and sell USD at 26,100-26,200 VND (buy - sell).
Dantri.com.vn
Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-vang-nhan-cung-tang-len-sat-102-trieu-dongluong-20250410010310186.htm
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