Gold jumps by VND2.5 mil per tael despite announced second gold auction
Despite the State Bank's announcement of a second gold auction tomorrow morning, April 25, aiming to boost supply and narrow the gap between domestic and global gold prices, gold trading enterprises continued to drive up SJC gold prices despite a downturn in global gold prices on the afternoon of April 24. Currently, SJC gold has risen by a total of VND2.5 million per tael compared to yesterday.
Around 3:30 p.m. on April 24, in Ho Chi Minh City, PNJ Company traded SJC gold at VND82.3 million per tael for buying and VND84.3 million per tael for selling, an increase of VND2.5 million for buying and VND2 million for selling compared to the previous day.
SJC Company raised their buying price by VND1.5 million and their selling price by VND1.2 million compared to yesterday, reaching VND82.5 million per tael for buying and VND84.5 million per tael for selling. Meanwhile, Mi Hong Gold Shop increased their buying price by VND900,000 and their selling price by VND800,000, listed at VND82.6 million per tael for buying and VND84 million per tael for selling.
At the same time, in Hanoi, Doji Group listed their prices at VND82 million per tael for buying and VND84 million per tael for selling, up by VND2 million for buying and VND1.5 million for selling compared to yesterday. Bao Tin Minh Chau Company increased their buying price by VND1.05 million and their selling price by VND1.25 million compared to the previous day, trading at VND82.35 million per tael for buying and VND84.25 million per tael for selling.
The price of 9999 gold rings remained unchanged from midday. SJC Company purchased 9999 gold rings at VND73.1 million per tael and sold them at VND74.9 million per tael. Meanwhile, Bao Tin Minh Chau Company listed prices at VND73.78 million per tael for buying and VND75.48 million per tael for selling.
In the global gold market, the spot gold price on the Kitco exchange around 3:30 p.m. on April 24 (Vietnam time) was US$2,318.75 an ounce, down $9 from noon. After conversion, this price equals approximately VND71.2 million per tael. Currently, the world gold price is approximately VND13.3 million per tael lower than SJC gold and VND3.7-4.3 million per tael lower than 9999 gold rings. – SGGP –