Gold prices have experienced substantial increases, with some areas seeing rises of up to 2.6 million VND per tael. In recent days, major dealers such as SJC, DOJI, and PNJ have reported similar spikes in gold bar transactions.
Current Gold Prices in Vietnam
- SJC, DOJI, PNJ: Trading between 150.9 and 152.9 million VND per tael, up 2.5 million VND compared to yesterday.
- Bảo Tín Minh Châu: Now priced at 151.4 – 152.9 million VND per tael, also up by 2.5 million VND.
- Phú Quý: Prices range from 150.4 to 152.9 million VND per tael, reflecting a 2.5 million VND increase.
Gold Ring Prices
Gold ring prices are following a similar upward trend. The current pricing for gold rings includes:
- SJC: 148.5 – 151 million VND per tael, an increase of 2.5 million VND.
- DOJI and PNJ: Priced at 148.7 – 151.7 million VND per tael, up by 2.6 million VND.
- Bảo Tín Minh Châu: Currently at 149.9 – 152.9 million VND per tael, rising by 2.4 million VND.
- Phú Quý: Increased by 2.4 million VND, trading at 149.2 – 152.2 million VND.
Global Market Trends
This afternoon, global gold prices surged, reaching approximately 4,143 USD per ounce, marking an increase of 48 USD from yesterday. Chris Louney, the global head of gold strategy at RBC Capital Markets, emphasized the enduring value of gold.
Market Insights
Louney pointed out that gold continues to be a stable asset compared to volatile options like cryptocurrencies. He also highlighted that despite short-term instability, gold is expected to maintain a critical support level above 4,000 USD per ounce, signaling potential price growth.
Future Price Projections
Looking ahead, the target for buyers is to close above the strong resistance level of 4,250 USD per ounce in December 2025 contracts. Conversely, sellers aim to lower prices below the robust technical support level of 4,000 USD per ounce.
Recent comments by John Williams, President of the New York Fed, suggested that U.S. interest rates might decrease in the near term without threatening inflation goals. Current investor sentiment indicates a 79% likelihood of a rate cut in December.
Gold typically performs well in low-interest-rate environments coupled with economic and political uncertainty, making it a favorable option for investors in these conditions.
