The Golden Opportunity: “Ring Prices Surge, Surpassing Gold Bar Rates to Reach Over 77 Million Dong per Tael”

As of 3:30 pm today, SJC listed the ring gold price at 74.98 – 77.01 million VND per tael (buy-sell), while the gold bar price was listed at 74.98 – 76.98 million VND per tael (buy-sell).

Thus, the ring gold price was 30,000 VND per tael higher than the gold bar price.

At the same time, Doji listed the ring gold price at 75.6 – 76.8 million VND per tael (buy-sell) and the gold bar price at 75.98 – 76.98 million VND per tael (buy-sell).

Previously, the ring gold price was more stable and closely followed the world gold price than SJC gold. The ring gold price was also always lower than the SJC gold bar price, with a gap of up to tens of millions of VND per tael at some points.

Over the past decade (2014-2023), the ring gold price has remained relatively stable, without the wild fluctuations seen in gold bars. The buy-sell spread has mostly been maintained within the range of 0.5-1 million VND per tael.

However, since February, the ring gold price has been breaking records. On April 1, the ring gold price surpassed the previous peak, reaching 71 million VND per tael for the first time. On April 9, the ring gold price surged to a new high of 77 million VND per tael. On April 10, it continued to climb, setting another record at 78 million VND per tael.

Afterward, the ring gold price cooled down. From mid to late April, it fluctuated within the range of 76-78 million VND per tael.

Since June 3, when the State Bank of Vietnam (SBV) sold gold to stabilize the price through four state-owned commercial banks and SJC, the SJC gold bar price has remained unchanged at 74.98 – 76.98 million VND per tael (buy-sell).

Meanwhile, businesses have continuously adjusted the ring gold price in line with the movements of the world gold price. In June, the ring gold price saw some sessions with increases/decreases of up to 1 million VND per tael.

Up to the present time, thanks to consecutive increases, the ring gold price has surpassed the gold bar price.

According to experts, ring gold has been the most efficient investment channel since the beginning of the year. The ring gold price has increased by nearly 22%, while the SJC gold bar price has risen by just over 4%.

From being consistently lower than the SJC gold price, the ring gold price is now on par and even surpasses the SJC gold bar price at times. With the world gold price on an upward trend, the ring gold price is expected to continue its upward trajectory in the near future.