(PLO)- The demand to buy gold at the end of the year has boosted the price of raw gold, 9999 gold increased sharply.
On the afternoon of January 17, the price of gold bars at Saigon Jewelry Company listed at 66.7 – 67.5 million VND/tael, up 300,000 VND/tael compared to yesterday.
In the opposite direction, SJC gold bar at Phu Nhuan Jewelry Company (PNJ) decreased by 100,000 dong in the buying afternoon, keeping the selling price unchanged compared to the previous session’s closing price, anchored at 66.4 million dong/tael (PNJ) bought in) and 67.4 million dong/tael (sold out).
Similarly, Sacombank – SBJ Gold, Silver and Gems Company also reduced by 100,000 dong in the buying afternoon and 300,000 dong per tael in the selling side, making the price of SJC gold bars here currently only 66.2 – 67.4 million dong/tael. .
Meanwhile, the price of 24K gold jewelry at PNJ was announced at 54.7 million dong/tael, sold at 55.8 million dong/tael, up to 400,000 dong/tael compared to the end of the previous session.
Even, 9999 gold at Sacombank – SBJ was listed at 54.66 – 56.04 million dong/tael, up to 540,000 dong/tael in the buying side and up 420,000 dong/tael in the selling side.
Thus, in just over 2 weeks, smooth round gold has increased by nearly 2 million dong per tael, but SJC gold bar has only increased by 400,000 – 500,000 dong/tael.
On the world market, gold price traded around the level of 1,908 USD/ounce. In November, analysts at HANetf surveyed 100 European and UK asset fund managers and found that 89% of respondents said they intend to increase their gold purchases by 2023.
Hedge fund managers see central bank demand for gold holdings as a key driver of the precious metal’s rally.
According to World Gold Council data, by the end of the third quarter of 2022, central banks had bought 673 tons of gold, the most cumulative amount in a year since 1967.
The survey found that 83% of managers expect central banks to continue buying gold this year. In line with central bank demand, asset managers say gold remains an attractive hedge against inflation and protection from stock market volatility and risks.
When this survey was conducted, gold prices were trading near two-year lows and fund managers said those prices were attractive buy and long-term holding points.
9999 ring gold price holds steady high
(PLO)- The price of 9999 gold and SJC gold bars remained at high levels despite the precious metal’s price in the international market slipping away from the $1,800 mark per ounce.
T.LINH