The Soaring Price of Gold Rings

Saigon Jewelry Company listed ring gold prices at VND 85-86.5 million per tael for buying and selling, an increase of VND 400,000 per tael compared to yesterday.

Bao Tin Minh Chau Jewelry Company listed ring gold prices at VND 85.63-86.58 million per tael, an increase of VND 800,000 per tael.

Doji Group listed ring gold prices at VND 85.6-86.6 million per tael. In the free market, people traded buying and selling prices that were VND 300,000-500,000 per tael higher than the listed prices.

Meanwhile, SJC gold bar prices remained unchanged at VND 87 million per tael. Thus, the price of ring gold is only VND 400,000 per tael lower than that of SJC gold bars.

Over the past week, ring gold prices have increased by VND 4.2 million per tael, while gold bar prices have risen by VND 3.5 million per tael. Although ring gold prices have not reached their peak again, they have increased by more than VND 23 million per tael since the beginning of the year. However, at this time, investors find it difficult to buy ring gold comfortably at major stores. Large-scale investors often turn to other channels such as the “network” market for transactions.

In the international market, world gold prices were listed at $2,716 per ounce, unchanged from yesterday.

In the currency market, this morning, the State Bank of Vietnam announced the central exchange rate at VND 24,295 per USD. USD selling and buying prices at commercial banks were listed at VND 25,170 – VND 25,509 per USD. In the free market, USD prices fluctuated around VND 25,652 – VND 25,752 per USD.