At around 10 a.m., Ngoc Tham Jewelry in Ho Chi Minh City quoted SJC bullion at VND127 million (US$4,820) per tael for buying and VND129 million (US$4,896) for selling, the highest on the market.
Major dealers including Saigon Jewelry Company (SJC), Bao Tin Minh Chau Jewelry and Gemstone Company, Doji and Phu Quy Group simultaneously raised both buying and selling prices by VND400,000 (US$15.1) per tael from the previous session, trading around VND127.4 million (US$4,836) for buying and VND128.9 million (US$4,893) for selling.
Notably, 9999 gold rings spiked to a new record. Bao Tin Minh Chau Company listed them at VND120.8 million (US$4,575) for buying and VND123.8 million (US$4,699) for selling, up VND500,000 (US$19) per tael from the day before.
SJC also lifted gold ring prices by VND500,000 (US$) on both sides, to VND120.6 million (US$4,567) for buying and VND123.1 million (US$4,662) for selling. Phu Quy Group quoted the price at VND120.3 million (US$4,554) for buying and VND123.3 million (US$4,667) for selling, up VND300,000 (US$11.4) per tael.
On international markets, gold settled at US$3,416.1 per ounce in New York on August 28, up US$20.4 from the prior session. Spot prices on Kitco at 10:15 a.m. (Vietnam time) eased slightly to US$3,411 per ounce. Converted at the prevailing exchange rate, this equals to about VND108.9 million (US$4,123) per tael, around VND20 million (US$758) –VND20.1 million (US$763) lower than SJC bullion price and VND14.1 million (US$535)- VND14.9 million (US$566) below 9999 gold ring price.
