Saigon Jewelry Company and Doji Group listed their gold ring prices at 77.1 – 78.3 million VND per tael, a decrease of 50,000 VND per tael in both buying and selling prices compared to the previous trading session on August 23rd.
Phu Quy Group listed their gold ring prices at 77.05 – 78.35 million VND per tael, also a decrease of 50,000 VND per tael in both buying and selling prices.
Bao Tin Minh Chau Company listed their smooth gold ring prices at 77.03 – 78.23 million VND per tael, a decrease of 70,000 VND per tael in both buying and selling prices compared to the previous day.
After reaching the highest price since the beginning of the year, the smooth gold ring price suddenly dropped. The buying and selling price difference for smooth gold rings ranged from 1.1 to 1.3 million VND per tael, depending on the gold business. Excluding the buying and selling price difference, gold buyers lost 1.5 million VND per tael after one week of holding.
The selling price of gold rings is 78.3 million VND per tael, and the selling price of SJC gold bars is 81 million VND per tael. Image: BTMC.
SJC gold bars were listed by banks and enterprises at 79-81 million VND per tael for buying and selling prices, unchanged from the previous trading session.
At the same time, the world gold price was at 2,512 USD/ounce. When converted according to the current exchange rate, the world gold price is approximately 76 million VND per tael, excluding taxes and fees.
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 Price ‘Slams the Brakes’ on Lunar New Year’s Eve
After a strong uptrend, gold prices worldwide paused on February 9th (the 30th day of the lunar year). Internally, most gold businesses closed, while some local gold shops remained open on the last day of the lunar year, selling SJC gold at around 78.5 million VND per tael and plain gold rings at 64 million VND per tael.
Vietnam Gold Prices Remain High, 18 Million Dong Above Global Prices
On February 11th, also known as the second day of the Lunar New Year holiday, the domestic gold market experienced a standstill amidst the celebration of the Year of the Horse. Despite the lack of movement, the price of gold in Vietnam still remained approximately 18 million VND higher than the global price, per tael.
