Gold bars approaching 127 million VND/tael

(GLO)- The domestic gold market at the beginning of the week (August 25) brought a surprise when it continued to increase by 300,000 VND, approaching the mark of 127 million VND/tael.

Since last week, the gold market has been on an upward trend, continuously setting new peaks. Compared to yesterday, the price of gold bars increased by 300,000 VND in both directions. Compared to the first trading session of last week (August 18), the price of gold bars increased by 2.2 million VND.

Currently, Bao Tin Minh Chau, DOJI , PNJ, and SJC are listing prices at 125.9-126.9 million VND/tael. Mi Hong continues to be a company with a higher buying price than the average, currently listed at 126.4 million VND/tael. Meanwhile, Phu Quy is currently buying at a low price of 124.9 million VND/tael, with a difference of 2 million VND.

Gold prices continued to set new peaks at the beginning of the week. Photo: PV

The price of gold rings also increased significantly compared to yesterday's trading session. Currently, Mi Hong is trading at 119.7-121.2 million VND/tael. Bao Tin Minh Chau is listing at 119-122 million VND/tael; SJC is buying at 118.8, selling at 121.3 million VND/tael. PNJ is trading at 118.8-121.8 million VND/tael.

The world gold market also maintained its upward momentum. According to Kitco, the world gold price recorded at 4:00 a.m. on August 25, Vietnam time, was 3,371.58 USD/ounce, an increase of 35.4 USD/ounce compared to last week. Converted according to the USD exchange rate at Vietcombank (26,520 VND/USD), the world gold price is about 107.8 million VND/tael (excluding taxes and fees).

Thirteen market forecasters participated in the gold price survey this week. Notably, none of them expected prices to fall. Eight of them, or 62%, predicted that gold prices would rise next week. The remaining five, or 38%, were neutral on gold prices.

A separate survey of retail investors also showed positive sentiment, albeit less bullish than before. Of the 194 respondents, 115 (59%) expected gold prices to rise. Thirty-five (18%) predicted a fall and 44 (23%) thought prices would remain flat.

Source: https://baogialai.com.vn/vang-mieng-ap-sat-moc-127-trieu-dongluong-post564671.html