The price of SJC gold bars rose to nearly 81 million VND (3,266 USD) per tael (one tael is equivalent to 1.33 ounces) in the last trading session of the first quarter (March 30), up 8% from the outset of the quarter.
The price of SJC gold bars rose to nearly 81 million VND per tael (one tael is equivalent to 1.33 ounces) in the last trading session of Quarter 1. (Photo: VNA)
Hanoi (VNA) – The price of SJC gold bars rose to nearly 81 million VND (3,266USD) per tael (one tael is equivalent to 1.33 ounces) in the last trading session of the first quarter (March 30), up 8% from the outsetof the quarter.
On March 30, SJC gold bars were sold for 80.82 million VND per tael, compared to over 75 million VND per tael at the beginning of the year.
In March alone, the gold price rose by 1.25%, peaking at 82.5 million VND per tael in the period from March 10-12.
The global gold prices rallied 9% in March, driven by expectations of interest rate cuts by the US Federal Reserve this year and high demand on safe assets.
According to Deputy Governor of the State Bank of Vietnam Pham Thanh Ha, despite the complex price fluctuation, the gold market remained stable, causing no pressure on the official foreign exchange market./
Domestic gold price decreased by 150,000 VND (6.1 USD) per tael (37.5 grams) at the beginning of trading on February 19 - God of Wealth Day (the tenth day of the first lunar month) compared to the price at the end of February 18, with many fluctuations expected on the market during the day.
Domestic gold prices increased on March 7 morning to a new record at 81.25 VND (3,290 USD) million per tael (one tael is equivalent to 1.33 ounces) for SJC gold bars and 68,8 million VND for gold rings, after global prices hit an all-time high of 2,152.09 USD per ounce a day earlier.
The State Bank of Vietnam (SBV) must join hands with competent agencies to fully and effectively implement timely measures to stabilise the gold market under a recent dispatch by Prime Minister Pham Minh Chinh.
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The price of SJC gold bars rose to nearly 81 million VND per tael (one tael is equivalent to 1.33 ounces) in the last trading session of Quarter 1. (Photo: VNA) 
