Doji Group raised its 9999 gold ring prices by VND2.5 million for buying and VND3.2 million for selling, compared with late yesterday, quoting VND151.5 million per tael for buying and VND154.5 million per tael for selling, at 10 a.m. on October 21.
Saigon Jewelry Company also added VND3.1 million to both buying and selling prices, posting quotes of VND151.1 million and VND153.3 million per tael, respectively.
Phu Quy Group lifted its prices by VND3.1 million in both directions to VND151.6 million for buying and VND154.6 million for selling.
In HCMC, Mi Hong Gemstone Jewelry Company increased its prices by VND2.5 million for buying and VND3.1 million for selling, trading at VND153 million and VND154.6 million per tael, respectively.
Bao Tin Minh Chau Company also adjusted prices upward by VND2 million on both sides, listing VND157.5 million per tael for buying and VND160.5 million for selling — the highest 9999 gold ring price on the market. This level exceeds the prices offered by other businesses by around VND6–7.2 million per tael and stands VND7.2 million higher than the SJC gold bar price.
SJC gold bar prices also surged this morning. Saigon Jewelry Company, Doji Group, and Mi Hong Gemstone Jewelry Company all raised their prices by VND3.1 million on both sides from late yesterday, quoting VND153.6 million per tael for buying and VND154.6 million for selling.
Bao Tin Minh Chau likewise increased prices by VND3.1 million on both sides to VND154.1 million for buying and VND154.6 million for selling, while Phu Quy Group lifted its buying price by VND3 million and selling price by VND3.1 million, quoting VND153 million and VND154.6 million per tael, respectively.
Global gold prices also rebounded sharply. Gold closed at US$4,355.10 an ounce, up $104 from the previous session, on October 20 (New York time). As of 10:20 a.m. (Vietnam time) on October 21, spot gold on the Kitco exchange was traded at $4,348.7 an ounce, down about $8 from the New York close. After conversion, this price equals approximately VND138.1 million per tael — about VND16.5 million lower than the SJC gold bar price and VND13–22.5 million lower than the 9999 gold ring prices in Vietnam.
The global rally was fueled by stronger safe-haven demand and growing expectations of interest rate cuts. This week, investors are awaiting the release of the US Labor Department’s September Consumer Price Index (CPI) report — delayed earlier due to the government shutdown — scheduled for Friday (local time).
