The price of 9999 gold rings has surpassed VND99 million per tael, peaking at VND99.6 million.
As of 9:30 a.m., Phu Quy Group bought 9999 gold rings at VND98 million per tael and sold them at VND99.6 million per tael, an increase of VND900,000 in the buying rate and VND1 million in the selling compared to the previous day.
Bao Tin Minh Chau adjusted both buying and selling prices up by VND400,000, quoting VND97.65 million per tael for buying and VND99.2 million per tael for selling.
Saigon Jewelry Company increased both prices by VND900,000, trading at VND97.5 million per tael for buying and VND99 million per tael for selling.
Phu Nhuan Jewelry Company raised prices by VND600,000 on both ends, purchasing gold rings at VND97.5 million per tael and selling them at VND99.1 million per tael.
With this surge, 9999 gold rings have set a new all-time high of VND99.6 million per tael, breaking the previous day's record.
SJC gold bars also hit new peaks, surpassing VND99 million per tael. PNJ and SJC both increased buying and selling prices by VND900,000, quoting VND97.6 million per tael for buying and VND99.1 million per tael for selling.
Bao Tin Minh Chau and Phu Quy Group bought gold at VND97.1 million per tael and sold it at VND98.6 million per tael, up VND400,000 in both buying and selling rates.
Mi Hong Gold Shop made a more modest adjustment, increasing both buying and selling prices by VND100,000, quoting SJC gold bars at VND97.6 million per tael for buying and VND98.6 million per tael for selling.
In the global gold market, prices surged in New York on March 18, closing at $3,034.4 an ounce, up $33.6 from the previous day. As of the morning of March 19 (Vietnam time), spot gold on Kitco traded at $3,031.8 an ounce. After conversion, this price level equates to approximately VND93.9 million per tael, about VND5.2 million lower than SJC gold bars and VND5.7 million below 9999 gold rings.
Gold is setting new all-time highs as safe-haven demand remains strong amid escalating geopolitical risks in the Middle East and uncertainty over US tariff policies. The rally is further driven by a weakening US dollar, with the DXY index—which tracks the greenback’s strength against six major currencies—slipping 0.2 percent to 103.24, its lowest level in five months. The decline reflects concerns over a potential economic slowdown in the US due to unstable tariff policies.
Markets are now awaiting the outcome of the US Federal Reserve’s policy meeting, set to conclude on Wednesday (local time), followed by Fed Chair Jerome Powell’s press conference. According to CME’s FedWatch Tool, traders are pricing in a 99 percent probability that the Fed will hold interest rates steady.
