Meanwhile, the record surge in global gold prices lifted domestic gold prices to rebound sharply on Monday, April 21.
As of around 9:30 a.m., jewelry manufacturing and retail companies like Saigon Jewelry Company (SJC), Phu Nhuan Jewelry Company (PNJ) and Bao Tin Minh Chau increased their buying and selling prices of gold bars by VND4 million (nearly US$155) in both compared to last weekend, listing SJC god bar prices at VND116 million (US$4,479) per tael for buying and VND118 million (US$4,551) per tael for selling.
Phu Quy Gold Investment Joint Stock Company raised both buying and selling prices by VND3.5 million (US$135), trading a gold bar at VND115 million (US$4,439) per tael for buying and VND117.5 million (US$4,536) per tael for selling.
Mi Hong Gold Shop in Ho Chi Minh City increased both buying and selling prices by VND1 million (US$38.6), listing a gold bar at VND117 million (US$4,516) per tael for buying and VND118 million (US$4,551) per tael for selling.
Thus, SJC gold prices rebounded in morning trade on April 21 but remained about VND5.5 million (US$212) per tael below the peak reached late last week.
In morning trade on April 21, the price of 9999 gold rings also glittered, but its surge was not as significant as that of SJC-branded gold bars.
In particular, Bao Tin Minh Chau Gold and Jewelry Company increased its buying price by VND2.2 million (US$84.9) and its selling price by VND3 million (US$116) compared to the weekend, quoting prices at VND113 million (US$4,362) per tael for buying and VND117 million (US$4,516) per tael for selling.
Phu Quy Group also raised its buying price by VND2 million (US$77) and its selling price by VND2.5 million (US$96.5), trading 9999 gold rings at VND112.5 million (US$4,340) per tael for buying and VND116 million (US$4,479) per tael for selling.
Phu Nhuan Jewelry Company increased its buying price by VND2.5 million (US$96.5) and its selling price by VND2.1 million (US$81.1) compared to the weekend, quoting prices at VND112 million (US$4,320) per tael for buying and VND115.6 million (US$4,463) per tael for selling.
Saigon Jewelry Company raised its buying price by VND2.5 million (US$96.4) and its selling price by VND1.5 million (US$57.9), quoting prices at VND112 million (US$4,320) per tael for buying and VND115 million (US$4,435) per tael for selling.
The price of 9999 gold rings this morning remains about VND2 million (US$77) per tael lower than last week’s peak and VND1 million (US$38.6) to VND3 million (US$116) per tael lower than SJC gold bars, depending on the providing units.
On the global gold market, the spot gold price on the Kitco exchange on the morning of April 21 (Vietnam time) rose to US$3,383.2 per ounce, up US$58 compared to the closing price in New York before the Thanksgiving holiday.
After conversion, this price is equivalent to approximately VND106.3 million (US$409) per tael, which is about VND10.7 million (US$413) to VND11.7 million (US$452) lower than SJC gold bars, and VND8.2 million (US$317) to VND10.7 million (US$413) per tael lower than 9999 gold rings.
