On the afternoon of October 21, the price of 99.99 gold rings increased dramatically to 87 million VND/tael.

(NLDO) – The price of 99.99 gold rings continued to jump on the afternoon of October 21 by another million VND/tael, setting a new historical peak.

The domestic gold market continues to be turbulent while the world gold price is still hot. At 4:30 p.m. on October 21, the price of 99.99 gold rings was listed by SJC Company at VND84.9 million/tael for buying and VND86.2 million/tael for selling, an increase of half a million VND per tael compared to the morning.

PNJ Company pushed the price of gold rings to a higher level, buying at 85.6 million VND/tael, selling at 86.6 million VND/tael, an increase of 900,000 VND per tael.

At Bao Tin Minh Chau Company, the price of plain gold rings produced by this company also jumped to 85.63 million VND/tael for buying and 86.63 million VND/tael for selling.

Meanwhile, the price of Doji Group's 99.99 gold jewelry and round gold rings officially reached VND87 million/tael for selling and VND86 million/tael for buying. This is the highest price on the market today, and also the highest in the history of the gold market.

Chiều 21-10, giá vàng nhẫn 99,99 tăng dữ dội lên 87 triệu đồng/lượng- Ảnh 1. — Gold ring price skyrocketed this afternoon

Meanwhile, the price of SJC gold bars remains at VND86 million/tael for buying and VND88 million/tael for selling. This is the latest price announced by SJC and commercial banks on the morning of October 21.

Domestic gold prices have not stopped their shocking increase while in the international market, today's gold price at 4:30 p.m., Vietnam time, set a new peak of 2,735 USD/ounce, an increase of about 5 USD/ounce compared to the morning and an increase of about 15 USD/ounce compared to the closing price last weekend.

Economist, Dr. Nguyen Tri Hieu, commented that there are many factors supporting the sharp increase in world gold prices, from geopolitical conflicts in the Middle East to central banks cutting interest rates, and increasing demand for gold as a safe haven.

Gold prices are predicted to reach $2,800/ounce in the near future. However, in an upward trend, gold prices can reverse and plummet, so investors need to be cautious.

According to a reporter from Nguoi Lao Dong Newspaper, the price of gold rings has increased sharply, but many gold companies and gold shops in Ho Chi Minh City said that the supply of gold is limited, so customers ask to buy but there is none. An employee of a gold brand in District 3, Ho Chi Minh City said that only when a customer sells a tael of gold rings or SJC gold bars, the company will have a source of gold to sell to other customers who ask to buy, because there is no gold available.

Currently, the world gold price converted according to the listed exchange rate is about 83.8 million VND/tael.