Opening, businesses listed the price of SJC gold bars at 117.8 million VND/tael (buy) - 120.3 million VND/tael (sell), an increase of 300,000 VND/tael each way compared to the end of June 13.
For gold rings, Saigon Jewelry Company Limited listed the price at 113.7 million VND/tael (buy) - 116.2 million VND/tael (sell), 200,000 VND/tael higher than the end of the previous day each way.
Meanwhile, Bao Tin Minh Chau Company Limited still listed at 116 million VND/tael (buy) - 119 million VND/tael (sell).
Domestic gold prices have just gone through a week with an upward trend. On the first day of the week (June 9), the price of SJC gold bars increased by VND800,000/tael (buying) and VND500,000/tael (selling), to VND115.7 million/tael (buying) - VND117.7 million/tael (selling).
The next day, the price of precious metals continued to increase sharply, reaching 116.5 million VND/tael (buy) - 118.5 million VND/tael (sell), 800,000 VND/tael higher than the previous day each way.
The increase continued as the gold price "jumped" another 300,000 VND/tael each way, up to 116.8 million VND/tael (buy) - 118.8 million VND/tael (sell).
On June 12, the price of gold had a remarkable development when it initially skyrocketed by VND900,000/tael, to VND117.7 million/tael (buy) - VND119.7 million/tael (sell) but by the end of the day it decreased to VND117 million/tael (buy) - VND119 million/tael (sell), meaning it only increased by VND200,000/tael (buy) and VND200,000/tael (sell) compared to June 11.
On June 13, the price of precious metals fluctuated the most this week. In the morning, the price of gold increased by 1.5 million VND/tael each way, reaching 118.5 million VND/tael (buy) - 120.5 million VND/tael (sell) - the highest level in more than 2 weeks.
The reason is that the world gold price increased sharply to over 3,400 USD/ounce in the context of geopolitical tensions. By the end of the day, the price was adjusted down, listed at 117.5 million VND/tael (buy) - 120 million VND/tael (sell), which means an increase of only 500,000 VND/tael (buy) and 1 million VND/tael (sell) compared to June 12.
Thus, from the beginning of the week to the end of the week, the price of SJC gold bars increased by a total of 3.1 million VND/tael.
The price of gold rings also fluctuated similarly, but the increase-decrease amplitude was lower. The total increase was about 2.7 million VND/tael.
This is the strongest week of increase in domestic gold prices in recent times, reflecting the upward trend of the world gold market.
Regarding the gold market, according to Director of the Foreign Exchange Management Department (State Bank) Dao Xuan Tuan, recently, implementing the direction of competent authorities, the State Bank has chaired and coordinated with ministries and branches to evaluate and summarize the implementation of Decree 24/2012/ND-CP on the management of gold trading activities, and provided orientations for gold market management in the new situation.
The State Bank has completed the draft revised Decree in line with the General Secretary 's instructions.
In particular, regarding the management of the gold bar market, the draft Decree builds regulations towards eliminating the State monopoly in the production of gold bars, the export of raw gold and the import of raw gold to produce gold bars.
This regulation is demonstrated through the mechanism of the State Bank granting licenses to a number of enterprises and banks that meet the conditions to produce gold bars; to import raw gold to produce gold bars and to serve the demand for raw gold for the production of gold jewelry and fine art.
Source: https://hanoimoi.vn/gia-vang-tang-hon-3-trieu-dong-luong-trong-tuan-705531.html
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