The Doji Group listed the highest market price for gold rings at 79.4 – 80.55 million VND per tael for buying and selling.
Bao Tin Minh Chau Company listed the price of gold rings at 79.39 – 80.54 million VND per tael.
Saigon Jewelry Company listed the price of gold rings at 78.9 – 80.2 million VND per tael.
In just two weeks, the price of gold rings has been continuously increasing. Since the beginning of this year, the price of gold rings has increased by 17.5 million VND, or more than 25%. If calculated from the beginning of 2023 until now, gold rings have increased by 26.2 million VND per tael, equivalent to a profit of 48.52%.
Gold ring prices hit an all-time high (Photo: Nhu Y)
For SJC gold bars, after a strong surge of up to 1.5 million VND per tael yesterday (August 13), there were no significant changes this morning.
SJC and the four state-owned banks (Vietcombank, Agribank, BIDV, and VietinBank) are currently listing the selling price at 80 million VND per tael. Major domestic gold and silver companies also maintained this price.
In terms of buying, the transaction price of SJC gold bars for the public is 78-79 million VND per tael. The difference between buying and selling prices of gold bars is mainly maintained at 2 million VND per tael.
Unlike gold rings, SJC gold bars, after many unusual price fluctuations at the beginning of the year, have been intervened by the State Bank with solutions such as gold auction and direct gold sales to the four state-owned banks and Saigon Jewelry Company.
Up to now, the price of SJC gold bars has cooled down within the management threshold set by the regulator.
Since the beginning of the year, the price of gold bars has only increased by 5 million VND per tael, and buyers are currently making a profit of about 4 million VND, equivalent to a modest net profit of just over 5%.
At the same time, the world gold price reached 2,622 USD/ounce. When converted according to the current exchange rate, the world gold price is about 77 million VND per tael, excluding taxes and fees.
In the currency market, on September 23, the State Bank announced the central exchange rate at 24,148 VND/USD. At commercial banks, the USD exchange rate fluctuated around 24,400 – 24,740 VND/USD.
The Highest Gold Ring Price Since the Beginning of the Year
As of August 23rd, the price of gold rings remained steadfast at a peak of VND 77.1 – 78.4 million per tael for buyers and sellers, the highest it’s been since the turn of the year. Meanwhile, SJC gold prices hovered unwaveringly around VND 79 – 81 million per tael.
The Golden Oracle: Shark Hưng’s Price Predictions Strike Again
Shark Hưng, a prominent investor and entrepreneur, once again showcases his astute insights into the dynamics of the gold market. In his recent predictions, Shark Hưng foresees the trajectory of gold prices and accurately anticipates the rise in popularity of gold rings. With his keen understanding of market trends and consumer behavior, Shark Hưng’s predictions are a testament to his expertise and strategic vision.
