Saigon Jewelry Company and Doji Group listed the buying and selling prices of round gold rings at 77 – 78.4 million VND per tael, unchanged from the previous trading session on August 17th.
Bao Tin Minh Chau Jewelry Company listed the buying and selling prices of round gold rings at 77.08 – 78.38 million VND per tael.
In Ho Chi Minh City, Mi Hong Gold System listed the buying and selling prices of plain round gold rings at 77.4 – 78.4 million VND per tael.
After authorities applied market management measures such as increased inspections and requirements for electronic invoices for gold transactions, domestic gold prices cooled down. Since May 2024, the price of round gold rings has decreased to 74 million VND per tael, equivalent to the world gold price.
The selling price of plain round gold rings reached 78.4 million VND per tael, the highest in the past three months. Photo: BTMC.
This morning (Vietnam time), the world gold price surged past 2,508 USD/ounce. Converted at the current exchange rate, the world gold price is approximately 76.3 million VND per tael, excluding taxes and fees.
The sharp increase in world gold prices has pushed the domestic round gold ring price to its highest level in three months. According to the General Statistics Office, in the first seven months of 2024, the domestic gold price index increased by 24.77%.
In the currency market, August 18th falls on the weekend, so the State Bank of Vietnam kept the mid-point exchange rate unchanged at 24,254 VND/USD.
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.
Market Update on February 2nd: Oil, Copper, Iron & Steel, Rubber, and Sugar Prices Decline, Gold Surges to Almost 1-Month High.
At the end of the trading session on February 1st, the prices of oil, copper, iron and steel, rubber, and sugar all dropped, while natural gas hit a nine-month low and gold reached its highest point in nearly a month.
Market Update on February 3rd: Crude oil, gold, copper, iron and steel, and rubber all decline together.
At the close of trading on February 2nd, the prices of oil, gold, copper, steel, rubber, and coffee all saw a simultaneous decrease, with iron ore hitting a two-week low.
