Gold prices for plain rings saw minimal fluctuations, with adjustments of only VND 50-100 thousand per tael. The selling price of this type of gold remains above VND 77 million per tael.
Specifically, SJC Company currently lists gold ring prices at VND 75.9-77.4 million per tael. DOJI Group applies a rate of VND 76.05-77.25 million per tael. Bao Tin Minh Chau and Phu Nhuan Jewelry Company (PNJ) listed prices at VND 76.03-77.23 million and VND 76.0-77.29 million per tael, respectively.
On the international market, the spot gold price is currently at $2,388 per ounce, equivalent to about VND 73.5 million per tael when converted at the VND/USD exchange rate, excluding taxes and fees. The recovery in global stock markets over the past few days has limited gold price increases from the perspective of competing assets. Even before that, when the stock market plummeted, gold was also sold off due to margin calls.
Investors are holding their breath as tensions escalate in the Middle East, as a full-blown conflict could push gold prices even higher. Escalating conflicts drive capital towards lower-risk assets, such as the US dollar and gold. This dynamic explains the upward trajectory of both gold and the US dollar so far this year.
