Domestic gold prices climb to new record of VND74 million per tael
Domestic gold prices kept rising to VND74.2 million per tael on March 8 morning fueled by worries over the impact of the ongoing Russia-Ukraine conflict.
At 11 a.m. the Saigon Jewelry Company (SJC) was buying its gold at VND71.8 million per tael and selling at VND73.9 million per tael, marking increases of VND100,000 per tael compared to the trading session on March 7.
Simultaneously, DOJI Gold and Gems Group listed each tael of its SJC gold bar at VND71 million and VND73 million per tael in Hanoi and VND70.9 million and 72.9 million per tael in Ho Chi Minh City for buying and selling, respectively.
But Phu Nhuan Jewelry Joint Stock Company (PNJ) announced its buying and selling prices of SJC gold bars at VND71.3 and VND74.2 million per tael in both Hanoi and Ho Chi Minh City.
In the global market, gold prices hovered at approximately US$1,986.2 an ounce on March 8, a decline of US$14.1 per ounce compared to March 7.
The gold prices are equivalent to VND55.01 million per tael when converted to the local currency, or VND18.39 million per tael lower than SJC gold prices recorded at the same time.
In terms of the local forex market, the State Bank of Vietnam also moved to adjust the exchange rate of major foreign currencies, with US$1 now exchanged for VND22,990.
