Domestic gold ring prices climb to record high of VND96.6 million per tael

On March 15, domestic prices of gold bars and gold rings remained at record levels despite the decline of global gold prices. The disparity between the domestic gold ring price and global gold prices is widening by VND4 million (US$156.77) per tael.

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Accordingly, Bao Tin Minh Chau Company listed 9999 gold ring prices at VND95 million per tael for buying and VND96.6 million per tael for selling, up VND50,000 a tael for both buying and VND100,000 for selling.

The buying and selling prices of 9999 gold rings of Phu Quy Gold, Silver, and Gem Stone Group; Saigon Gold and Jewelry Company (SJC); and Phu Nhuan Jewelry Joint Stock Company (PNJ) were VND95 million and VND96.5 million per tael; VND94.2 million and VND95.7 million per tael; and VND94.5 million and VND96,2 million per tael, respectively.

The buying prices of SJC-branded gold bars have surged while the selling price has remained unchanged.

Bao Tin Minh Chau Company bought SJC-branded gold bars at VND94.5 million per tael and sold them at VND95.8 million per tael, up VND100,000 for buying.

The gold bars of Mi Hong gold and jewelry chain were at VND95 million a tael for buying and VND96 million a tael for selling, increasing VND200,000 for buying.

Saigon Gold and Jewelry Company (SJC), Phu Nhuan Jewelry Joint Stock Company (PNJ), and Phu Quy Gold, Silver, and Gem Stone Group announced the buying price of a tael of gold at VND94.3 million and the selling price at VND95.8 million.

The gold spot price from the international gold market in New York was traded at US$2,984.5 per ounce at the end of the weekend, down US$4.1 compared to the previous trading session, equivalent to VND92.4 million per tael. It is lower than the domestic SJC gold price by approximately VND3.6– VND3.8 million per tael and VND3.8 – VND4.2 million per tael lower than the price of 9999 gold rings.

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