On the morning of March 9th, the price of pure gold rings continued to rise sharply compared to yesterday and exceeded the milestone of 70 million dong per tael, the highest ever.
At 9:15 am, DOJI Group listed the price of 9999 pure gold rings, also known as 24k gold, at 68.75-70.05 million dong per tael, an increase of about 500,000 dong per tael compared to yesterday. Similarly, at Bao Tin Minh Chau, the price of pure gold rings was listed at 68.78-69.98 million dong per tael.
Other brands also saw a strong increase in the price of this type of gold early in the morning of March 9th. Among them, Phu Nhuan Jewelry (PNJ) and Saigon Jewelry and Gemstone Corporation increased the selling price of their rings by about 400,000 dong per tael, currently listed at 69.2-69.3 million dong per tael.
Price of gold at DOJI at 9:15 am on March 9th
So, in this week, pure gold rings have increased in price by about 2.5-3 million dong per tael.
In the past year, the price of pure gold rings has increased by 16 million dong per tael, equivalent to a 30% increase. This is an extremely rare profit margin for this type of gold in the past 5 years. Compared to savings, investing in gold in the past year has yielded much higher returns.
The recent fluctuations in the domestic gold price have been affected by the international gold price as this precious metal continues to set new records. On the evening of March 8th (Vietnam time), the spot price of gold in the international market approached the 2,200 USD/ounce mark, an all-time high.
Converted at the USD/VND exchange rate at commercial banks, the international gold price is only equivalent to 65.5 million dong per tael (excluding taxes and fees). Meanwhile, estimated at the USD exchange rate in the free market, the international gold price is equivalent to about 67 million dong per tael (excluding taxes and fees).
