At around 2 p.m., PNJ Company listed plain gold rings at VND84.4 million per tael for buying and VND85.39 million per tael for selling, marking an increase of VND950,000 in the buying rate and VND940,000 in the selling rate compared to the previous day.
SJC Company priced 9999 gold rings at VND84 million per tael for buying and VND86 million per tael for selling, up VND800,000 and VND700,000, respectively.
Bao Tin Minh Chau Company also raised both buying and selling prices by VND840,000, with buying listed at VND83.73 million per tael and selling at VND85.25 million per tael.
As a result, the highest selling price for 9999 gold rings in the market was recorded by SJC at VND86 million per tael, surpassing the previous day's record of VND84.45 million per tael. This is the first time in many years that the price of 9999 gold rings has equaled that of SJC gold bars.
The price of SJC gold bars, listed by SJC, PNJ, and Doji Group, remained steady at VND84 million per tael for buying and VND86 million per tael for selling, unchanged from the previous day.
At the four State-owned commercial banks (Agribank, BIDV, Vietcombank, and Vietinbank), the selling price of SJC gold also remained at VND86 million per tael.
On the global market, gold closed in New York on the night of October 17 at US$2,692.5 an ounce, up $18.3 from the previous session. On the afternoon of October 18 (Vietnam time), spot gold on the Kitco exchange continued to rise, reaching $2,706.9 an ounce — the highest price ever recorded for global gold. After conversion, this is equivalent to VND82.8 million per tael, VND3.2 million lower than the price of SJC and 9999 gold rings in Vietnam.
This surge in global gold prices followed the release of US retail sales data, which showed a 0.4 percent increase compared to August, along with unemployment claims of 241,000, below the forecasted 260,000. Experts suggest that gold is being supported by several factors, including bond yields, expectations of accelerated interest rate cuts by central banks worldwide, and rising demand for safe-haven assets amid concerns over global geopolitical tensions.
