Surge in Price of SJC Gold and Plain Gold Rings

On February 16th, the domestic gold price experienced a sharp reversal, rising significantly after a substantial decrease in the previous trading session. The morning of February 16th saw an increase of 1 million dong per tael.

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At Phu Nhuan Gold, SJC gold is listed at 76.95-78.95 million VND per tael, increasing 1 million VND per tael compared to yesterday. The price of plain gold rings here remains unchanged at 63.2-64.4 million VND per tael.

At Bao Tin Minh Chau, SJC gold price also increased nearly 1 million VND per tael to 77.05-79.0 million VND per tael. The price of pure 9999 gold rings returned to over 66 million VND per tael in the afternoon session, increasing about 500 thousand VND per tael compared to the session on February 15.

Similarly, DOJI Group also raised the price of SJC gold to 76.75-78.95 million VND per tael. The price of plain 24k gold (9999) is at 64.4-65.45 million VND per tael.

Therefore, SJC gold price has approached the peak level reached at the end of 2023 (over 80 million VND per tael). The buying-selling price difference is currently about 2 million VND per tael.

The domestic gold price has increased sharply in the context of the international gold price recently recovering slightly from $1,995/ounce to $2,005/ounce. However, the domestic price increase is much higher than the international price. The price difference between domestic gold and international gold is still very large. Currently, based on the VND/USD exchange rate, the international gold price is equivalent to about 60 million VND per tael (excluding taxes and fees).