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The consumer price index (CPI) in February rose 1.04% against January and 3.98% year-on-year, fueled by high consumer demand for Tet (Lunar New Year) holiday and a surge in rice prices, the General Statistics Office said on February 29.
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.
According to the gold shops, on the day of the God of Wealth, plain round rings are the choice of most people because they are easy to trade and have low depreciation.
Every year on the 10th day of the first lunar month, the God of Wealth Day, which falls on Monday (February 19) this year, people rush to buy gold.
Experts have predicted that gold prices, which reached a record high last week, may continue to rise in the short term, but the upward trend would be hard to sustain in the medium and long term.