Gold ring price exceeds 94 million VND/tael, 'waiting for world news' to decrease?

The selling price of 9999 Bao Tin Minh Chau gold rings at the end of today, March 12, reached 94.1 million VND/tael, the highest ever.

Gold ring price exceeds 94 million VND/tael - Photo: NGOC PHUONG

The price of gold rings continues to increase while the world gold price at the end of today has decreased to 2,913.4 USD/ounce.

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 90.05 million VND/tael.

The highest price of gold rings ever

According to records, at Bao Tin Minh Chau Company, the buying price of gold rings increased to 92.55 million VND/tael.

SJC Company listed the price of gold rings at 93.4 million VND/tael at the end of today, buying at 91.8 million VND/tael.

At PNJ Company, the selling price of gold rings jumped to 93.9 million VND/tael, buying price 92.3 million VND/tael.

Meanwhile, the common price of SJC gold bars is at 93.5 million VND/tael (selling) and 91.8 million VND/tael (buying).

Compared to the converted world gold price, the price of gold rings is 3.35 - 4.05 million VND/tael higher.

Gold prices await news from the Fed meeting

According to experts' analysis, the world gold price is still in a downward trend. The world gold price suddenly increased to 2,925 USD/ounce due to the news that Europe imposed retaliatory tariffs on the US. However, the world gold price then collapsed to around 2,910 USD/ounce.

Investors are currently waiting for information on the US consumer price index (CPI) and the results of the US Federal Reserve (Fed) meeting taking place on March 20.

If the CPI comes out as expected or higher than expected, the price of gold will fall sharply. Conversely, if the CPI falls more than expected, the price of gold will rebound.

Besides, there are still some factors supporting the recovery of world gold prices, which is the depreciation trend of the USD.

Gold prices were also supported by hedging demand as US President Donald Trump's tariff moves continued to be unpredictable and caused great uncertainty.

In addition, data released by the People's Bank of China (PBOC) over the weekend showed that the country bought an additional 5 tons of gold reserves in February, bringing its reserves to 2,289 tons of gold.

This is the fourth consecutive month of net gold buying by the PBOC, after China returned to net gold reserves in November last year after a six-month hiatus.

Please follow the domestic gold price movements here.

Source: https://tuoitre.vn/gia-vang-nhan-vuot-94-trieu-dong-luong-dang-ngong-tin-the-gioi-de-giam-2025031219200591.htm