At around 3:45 p.m., both Saigon Jewelry Company (SJC) and Phu Nhuan Jewelry Company (PNJ) increased the price of SJC-branded gold bars by VND200,000 (US$7.9) per tael for both buying and selling compared to the previous trading session this morning.
This marked a total increase of VND800,000 (US$31.5) per tael for buying and VND500,000 (US$19.7) per tael for selling compared to the trading session yesterday.
The prices are now listed at VND91.8 million per tael for buying and VND93.5 million per tael for selling.
Bao Tin Minh Chau Jewelry Company raised its buying price by VND400,000 and its selling price by VND200,000 compared to this morning, listing at VND92 million per tael for buying and VND93.5 million (US$3,608) per tael for selling.
Phu Quy Group increased its buying and selling prices by VND200,000 (US$7.9), trading at VND92.5 million (US$3,634) per tael for buying and VND94 million (US$3,694) per tael for selling.
This afternoon, selling prices of 9999 gold rings surpassed VND94 million (US$3,694) per tael, breaking the previous record of VND93.9 million (US$3,689) per tael which had just set this morning.
Bao Tin Minh Chau Jewelry Company updated prices at VND92.55 million per tael for buying and VND94.1 million per tael for selling.
Phu Quy Group now lists gold rings at VND92.5 million (US$3,635) for buying and VND94 million (US$3,694) for selling.
Saigon Jewelry Company and Phu Nhuan Jewelry Company increased their buying and selling prices over the trading session this morning, listing at VND93.4 million (US$3,669) and VND93.9 million (US$3,689) for their selling prices, respectively.
The current price of 9999 gold rings has increased by approximately VND10 million (US$393) per tael since the beginning of the year, equivalent to around 12 percent growth.
On the global gold market, gold prices closed at US$2,915.6 an ounce in New York on the night of March 11, up US$27.5 from the previous session. The spot gold price on Kitco rose to US$2,921.5 an ounce on the afternoon of March 12 (Vietnam time), increasing by US$6 from the closing session of this morning.
After conversion, this price is equivalent to VND90.3 million (US$3,547) per tael, which is about VND3.2 million (US$126) and VND3.8 million (US$149) lower than SJC gold and 9999 gold ring prices respectively.
