Gold prices set new peak of nearly VND65 million per tael

At 11 a.m. the buying and selling prices for gold bars quoted by Saigon Jewelry Company Limited (SJC) stood at VND64.1 million and VND64.8 million per tael, respectively, representing rises of VND600,000 and VND700,000 per tael compared to the prices recorded the previous day.

Simultaneously, DOJI Gold and Gems Group were trading gold at VND64.05 million for buying and 64.85 million for selling per tael, marking increases of VND400,000 and VND600,000 per tael from the day before.

In the global market, gold prices hovered around approximately US$1,928 an ounce on February 24. The focus of the current market remains on the geopolitical tension between Russia and Ukraine, along with new sanctions on Russia imposed by the United States, the European Union, Japan, and Australia.

The world’s gold prices are equivalent to VND52.85 million per tael when converted in the domestic exchange rate, VND11.4 million per tael lower than SJC gold prices in the Vietnamese market at the same time.

In the local forex market, the State Bank of Vietnam also adjusted the exchange rate of major foreign currencies, with US$1 exchanged for VND22,960.