Gold and Jewelry Company Phu Quy listed the ring gold price at 87.9 – 89 million VND/tael buying and selling rate.
Bao Tin Minh Chau Company listed the ring gold price at 87.48 – 88.98 million VND/tael. Doji Group listed the ring gold buying and selling rate at 88 – 89 million VND/tael.
Sai Gon Jewelry Company listed the lowest ring gold price in the market at 86.9 – 88.2 million VND/tael buying and selling rate.
Gold price remains at a peak of 89 million VND/tael.
The plain ring has continuously increased in price over the past 10 days. Compared to the middle of the month, the plain ring price has increased by more than 5 million VND/tael.
State-owned banks (Vietcombank, Vietinbank, BIDV, Agribank) listed the SJC gold bar price at 89 million VND/tael. Enterprises listed the SJC gold bar price at 87 – 89 million VND/tael buying and selling rate.
At the same time, the world gold price was listed at 2,734 USD/ounce, an increase of 13 USD/ounce compared to yesterday. The world gold price is equivalent to nearly 83 million VND/tael.
According to forecasts by the world’s leading banks, the world gold price could reach 3,000 USD/ounce next year, and the domestic gold price is expected to continue to increase. However, many experts suggest that investing in gold at this time is not advisable due to high prices and market volatility.
In the currency market, the State Bank of Vietnam listed the central exchange rate at 24,260 VND/USD, an increase of 10 VND/USD compared to the previous day. This is the 9th consecutive session that the central exchange rate has been adjusted upwards. From the beginning of the week until now, the central exchange rate has increased by 57 VND.
At commercial banks, the USD exchange rate is at 25,233 – 25,473 VND, an increase of 10 VND in both buying and selling rates. From the beginning of October until now, the USD price at banks has increased by about 730 VND, equivalent to an increase of nearly 3%; thus, the total depreciation of VND against USD since the beginning of the year is 4.3%. The listed USD price at banks is approaching the historical peak of nearly 25,500 VND set in April.
Should You Buy Gold Now?
This morning (October 27th), gold ring prices continued to soar, reaching an all-time high of 89 million VND per tael. SJC gold bars also hit a four-month high. However, experts advise investors to exercise caution and refrain from succumbing to herd mentality.
The Golden Question: What Do World Gold Council Experts Say About Investing in SJC Gold and Gold Rings Now?
The primary factor driving the recent volatility in gold prices is the decline in interest rates in developed markets, as global investors seek safe havens to hedge against risk.
The Golden Surprise
As of the evening of September 27th, the SJC gold bar price was listed by the Saigon Jewelry Company (SJC) at 81.5 million VND per tael for buying and 83.5 million VND per tael for selling, maintaining the highest level in many months.
Gold Bangles’ Record Price Surge: To Buy or Sell Now?
The recent surge in domestic and global gold prices has left many hesitant, unsure whether to buy and await further price increases or seize the opportunity to sell and profit from the current high prices.
