Enterprises listed 9999 gold rings and SJC-branded gold bars at the same prices for selling. Some businesses even purchased 9999 gold rings at prices higher than gold bullion by over VND1 million (US$39.3) per tael.
Around 9:30 a.m. on December 27, Saigon Gold and Jewelry Company (SJC), Phu Nhuan Jewelry Company (PNJ) and Phu Quy Group listed SJC-branded gold prices at VND82.7 million (US$3,250) per tael for buying and VND84.7 million (US$3,331) per tael for selling, an increase of VND200,000 (US$7.85) for both compared to yesterday.
SJC Company traded gold rings at VND82.7 million (US$3,250) per tael for buying and VND84.5 million (US$3,321) per tael for selling, an increase of VND200,000 (US$7.85) for both buying and selling compared to yesterday.
Phu Quy Group also increased the price by VND200,000 (US$7.85) for both buying and selling, trading at VND83.3 million (US$3,274) per tael for buying and VND84.8 million (US$3,333) per tael for selling.
Phu Nhuan Jewelry Company listed the price of 9999 gold rings at VND83.8 million (US$3,294) per tael for buying and VND84.7 million (US$3,331) per tael for selling, an increase of VND100,000 (US$3.93) per tael for buying and VND200,000 (US$7.85) per tael for selling.
Bao Tin Minh Chau Company increased the price by VND200,000 (US$7.85) for both buying and selling, trading at VND82.9 million (US$3,260) per tael for buying and VND84.7 million (US$3,331) per tael for selling.
Thus, the selling prices of 9999 gold rings and SJC gold bars in the domestic market are currently equal. However, numerous businesses have purchased 9999 gold rings at higher prices than SJC gold bars. Notably, PNJ Company is purchasing 9999 gold rings at VND1.1 million (US$43.2) per tael higher than SJC gold bars.
After the Christmas holiday, the global gold market has rebounded. The gold price closed at US$2,633.2 per ounce in New York on the night of December 26, up US$20.6 compared to the pre-holiday trading session.
The spot gold price on the Kitco exchange on the morning of December 27 was listed at US$2,630 per ounce. After conversion, this price is equivalent to VND80.9 million (US$3,177) per tael, which is approximately VND3.7 million (US$145) and VND3.8 million (US$149) per tael lower than SJC gold bars and 9999 gold rings.
