Domestic gold price increased sharply, exceeding world price by nearly 20 million VND/tael

On August 30, domestic gold prices hit a new peak, with SJC gold bars selling for VND130.6 million/tael, nearly VND20.5 million higher than the world price. Gold rings with 4 numbers 9 reached VND125 - 125.5 million/tael, the difference between buying and selling was VND2.5 - 3 million. World prices increased due to expectations of the Fed cutting interest rates.

Domestic gold price hits new peak, surpassing 131 million VND/tael

SJC gold bars reached the selling price of 130.6 million VND/tael, the highest ever.

On August 30, the domestic gold price continued to peak, surpassing the 130 million VND/tael mark. The price of SJC gold bars increased by 1.3 million VND, to 129.1 million VND for buying and 130.6 million VND for selling, about 20.5 million VND higher than the world gold price.

The price of 4-9 gold rings also increased sharply, at SJC, the buying price reached 122.5 million VND and the selling price reached 125 million VND/tael, while PNJ sold at 125.5 million VND/tael. The difference between buying and selling prices is commonly 2.5 - 3 million VND/tael, creating high risks for buyers.

In the international market, gold prices increased due to expectations that the US Federal Reserve (Fed) will cut interest rates at its upcoming meeting, after the core personal consumption expenditure (PCE) index in July increased by 2.9%. The world gold price on the same morning reached 3,446.5 USD/ounce, up 36.5 USD compared to yesterday, equivalent to about 110.12 million VND/tael when converted according to Vietcombank exchange rate (excluding taxes and fees).

Source: Nhan Dan Newspaper

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Source: https://htv.com.vn/gia-vang-trong-nuoc-tang-manh-vuot-gia-the-gioi-gan-20-trieu-dong-luong-222250830221451269.htm