Unprecedented: Gold ring price exceeds 98 million VND/tael

Specifically, at 2:04 p.m., the price of gold rings at Bao Tin Minh Chau was at 96.65 - 98.2 million VND/tael. Similarly, the price of gold rings at Doji was at 96.6 - 98.1 million VND/tael.

Thus, the price of gold rings has broken the record of 97 million VND/tael set this morning and is at an unprecedented high in history. Compared to early this morning, each tael of gold rings has increased by 1.5 million VND/tael (selling price) and 1.6 million VND/tael (buying price).

The price of SJC gold bars is also on a strong upward trend, listed by stores at 96.1 - 97.6 million VND/tael (buy - sell), an increase of 1.3 million VND/tael for buying and an increase of 1.5 million VND/tael for selling.

Gold ring price increased dramatically on March 18.

The continuous increase in domestic gold prices is due to the impact of world prices. Currently, the gold price on Kitco is listed at 3,017 USD/ounce, an increase of 10 USD/ounce compared to early this morning and surpassing the peak of March 14.

According to records, although the price of gold is increasing sharply, there are still many customers coming to buy gold, forcing stores to limit sales. This morning, Bao Tin Minh Chau store only sold gold for about 10 minutes before quickly announcing that it was out of gold and also limited each customer to buy a maximum of 1 tael of gold ring. Meanwhile, there are no more gold bars for sale to customers.

Experts predict that domestic gold prices could reach 100 million VND/tael. Dr. Nguyen Tri Hieu, a finance and banking expert, said that the price of gold rings has a 70% chance of reaching this unprecedented record.

"The world gold price has increased sharply recently and is forecast to continue to increase. Geopolitical tensions are the main factor pushing the world gold price to continuously reach historical peaks. Under the impact of the world gold price, the domestic gold ring price will also tend to increase sharply," Mr. Hieu explained.

The first months of 2025 have seen a "skyrocketing" gold price. Previously, at the beginning of the new year 2025, the price of gold bars was traded at VND 84.2 million/tael, while gold rings were at VND 82.4 million/tael. Thus, after 2.5 months, the selling price of SJC gold bars increased by VND 13.4 million/tael and gold rings increased by VND 15.8 million/tael. It can be seen that although the starting point was lower, the price of gold rings increased more strongly than gold bars.

It is easy to see that in the first two months of the year, the price of gold only increased slightly by about 2-3 million VND/tael. The strong increase only really took place from the beginning of March, when the world price fluctuated strongly. There was a time when the price of gold increased by up to 1 million VND/tael. After just over 10 days from March 5 to March 18, each tael of gold bars increased by 4.9 million VND and each tael of gold rings increased by 5.3 million VND/tael.

New records were also continuously set and broken. On March 13, the price of gold bars reached the peak of 94 million VND/tael, while gold rings reached the peak of 95 million VND/tael. Then, just one day later, both gold bars and gold rings caused a shock when they reached 95 million VND/tael (gold bars) and 96 million VND/tael (gold rings).

Or on March 17, the price of gold rings and gold bars both surpassed the peak of 96 million VND/tael. Then exactly one day later, the price of gold bars conquered the mark of 97 million VND/tael in the morning and 98 million VND/tael in the early afternoon. Currently, the domestic gold price has not shown any signs of stopping increasing.

Source VTC News

Source: https://baotayninh.vn/chua-tung-co-gia-vang-nhan-vuot-moc-98-trieu-dong-luong-a187602.html