Gold businesses in Vietnam have just adjusted for the price of 9999 gold rings, increasing by VND100,000 (US$3.97) to VND300,000 (US$11.9) per tael compared to the previous price on the same day. That made 9999 gold rings at a new record-breaking.
Around 4 p.m. on October 17, Phu Nhuan Jewelry Company (PNJ) raised both buying price and selling price by VND150,000 (US$5.95) per tael to VND84.5 million (US$3,358), increasing by VND300,000 (US$11.9) on the whole day compared to the previous day.
Saigon Gold and Jewelry Company (SJC) listed its gold rings prices at VND83.1 million (US$3,301) per tael for buying and VND84.3 million (US$3,349) per tael for selling, marking an increase of VND700,000 (US$27.8) for both on October 17 compared to yesterday.
Bao Tin Minh Chau Company also raised buying and selling prices of 9999 gold rings by VND100,000 (US$3.97) to VND83.43 million (US$3,315) and VND84.43 million (US$3,355), marking an increase of VND400,000 (US$15.9) for both on October 17 compared to yesterday.
The prices of gold bars at Saigon Gold and Jewelry Company, Phu Nhuan Jewelry Company and Doji Group remained unchanged at VND84 million (US$3,336) per tael for buying and VND86 million (US$3,415) per tael for selling compared to the previous trading session.
The selling prices of SJC-branded gold at the four State-owned commercial banks including Vietnam Bank for Agriculture and Rural Development (Agribank), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Saigon Jewelry Company Limited (SJC) remain at VND86 million (US$3,415) per tael.
In the global gold market, the spot gold price from Kitco on October 17 late continued to rise to US$2,680.9 per ounce, down US$4 compared to the previous session this morning.
After conversion, this price is equivalent to approximately VND81.4 million (US$3,228) per tael, about VND4.6 million (US$182) per tael lower than the domestic SJC gold price and about VND3.05 million (US$121) per tael lower than the price of 9999 gold rings.
