As of 3:30 pm today, SJC listed the ring gold price at 74.98 – 77.01 million VND per tael (buy-sell), while the gold bar price was listed at 74.98 – 76.98 million VND per tael (buy-sell).
Thus, the ring gold price was 30,000 VND per tael higher than the gold bar price.
At the same time, Doji listed the ring gold price at 75.6 – 76.8 million VND per tael (buy-sell) and the gold bar price at 75.98 – 76.98 million VND per tael (buy-sell).
Previously, the ring gold price was more stable and closely followed the world gold price than SJC gold. The ring gold price was also always lower than the SJC gold bar price, with a gap of up to tens of millions of VND per tael at some points.
Over the past decade (2014-2023), the ring gold price has remained relatively stable, without the wild fluctuations seen in gold bars. The buy-sell spread has mostly been maintained within the range of 0.5-1 million VND per tael.
Ring gold price surpasses gold bar price. (Illustration: Cong Hieu).
However, since February, the ring gold price has been breaking records. On April 1, the ring gold price surpassed the previous peak, reaching 71 million VND per tael for the first time. On April 9, the ring gold price surged to a new high of 77 million VND per tael. On April 10, it continued to climb, setting another record at 78 million VND per tael.
Afterward, the ring gold price cooled down. From mid to late April, it fluctuated within the range of 76-78 million VND per tael.
Since June 3, when the State Bank of Vietnam (SBV) sold gold to stabilize the price through four state-owned commercial banks and SJC, the SJC gold bar price has remained unchanged at 74.98 – 76.98 million VND per tael (buy-sell).
Meanwhile, businesses have continuously adjusted the ring gold price in line with the movements of the world gold price. In June, the ring gold price saw some sessions with increases/decreases of up to 1 million VND per tael.
Up to the present time, thanks to consecutive increases, the ring gold price has surpassed the gold bar price.
According to experts, ring gold has been the most efficient investment channel since the beginning of the year. The ring gold price has increased by nearly 22%, while the SJC gold bar price has risen by just over 4%.
From being consistently lower than the SJC gold price, the ring gold price is now on par and even surpasses the SJC gold bar price at times. With the world gold price on an upward trend, the ring gold price is expected to continue its upward trajectory in the near future.
Deadline for Reporting Gold Market Management and Operations Results to SBV Today, January 31
As per the directive of Prime Minister Pham Minh Chinh, today (January 31, 2024) is the deadline for the State Bank of Vietnam (SBV) to submit a report on the summary of Decree 24, which includes proposals for amending and supplementing certain regulations for managing the gold market.
Gold prices surge as Lunar New Year approaches
On the morning of February 1st, the domestic gold price continued to surge with an increase of 500,000 VND/tael, approaching the 78 million VND/tael mark. As Tet holiday approaches, the price of gold tends to rise sharply.
Gold prices: SJC gold and plain gold rings surge simultaneously
On the morning of January 31st, the prices of SJC gold and 24k smooth gold rings in Vietnam saw a simultaneous increase compared to the previous day.
Gold prices surge to nearly 79 million dong per tael ahead of Tet, investors make huge profits.
After dropping sharply from 80.5 million VND per tael to 74 million VND per tael at the beginning of the year, SJC gold price has been showing signs of recovery recently. On February 2nd, the price of gold continued to rise significantly and reached nearly 79 million VND per tael.
Welcoming the New Year, Hundreds of VinaPhone Customers Win the SJC 9999 Gold Prize
After the first lucky draw period, VinaPhone has found hundreds of customers who are fortunate owners of the 01 SJC 9999 GOLD BAR and the 01 SJC 9999 GOLD BAR. The program will continue until 18/02/2024 with many valuable GOLD prizes to express gratitude to customers.
