Gold ring prices surged sharply in line with global trends.

Today, domestic gold prices rose across the board, following global gold prices. Gold prices surged after news that the US House of Representatives and Senate had approved an extension of the national debt ceiling.

At the close of trading on June 2nd, the price of 9999 gold rings (1-5 tael) listed by Saigon Jewelry Company Limited (SJC) in Ho Chi Minh City was 55.65-56.6 million VND/tael (buying price - selling price), an increase of 150,000 VND/tael in both buying and selling prices compared to the close of trading yesterday.

Meanwhile, 9999 gold rings weighing 0.5 tael are being bought and sold by SJC at 55.65-56.7 million VND/tael, also increasing by 150,000 VND/tael in both buying and selling prices compared to the closing price yesterday.

The price of 9999 pure gold rings from Doji Gold and Gemstone Group in Hanoi this afternoon was traded at 55.4-56.45 million VND/ounce (buy-sell), an increase of 350,000 VND/ounce in both buying and selling prices compared to the closing price yesterday.

Gold prices continue to fall (Photo: Nguyen Hue )

Similarly, the price of gold rings from Phu Nhuan Jewelry Joint Stock Company (PNJ) also increased today. PNJ's listed gold ring prices in Ho Chi Minh City today are at 55.7-56.9 million VND/ounce, an increase of 100,000 VND/ounce for buying and 200,000 VND/ounce for selling compared to yesterday's closing price.

The difference between the buying and selling prices of gold rings in the domestic market ranges from 950,000 VND/ounce to 1,200,000 VND/ounce.

Following the same trend, the price of gold bars in the domestic market today recorded an upward trend.

At the close of trading, the price of SJC gold bars increased by 50,000 VND/ounce for both buying and selling compared to yesterday's closing price.

Meanwhile, the price of Doji gold bars in Hanoi remained unchanged; the price of Doji gold bars in Ho Chi Minh City increased by 50,000 VND/ounce in both buying and selling prices compared to yesterday's closing price, regaining the 67 million VND/ounce mark (selling price).

	Buy	Sell
SJC Hanoi	66,450,000 VND/ounce	67,070,000 VND/ounce
SJC Ho Chi Minh City	66,450,000 VND/ounce	67,050,000 VND/ounce
SJC Da Nang	66,450,000 VND/ounce	67,070,000 VND/ounce
Doji Hanoi	66,400,000 VND/ounce	67,000,000 VND/ounce
Doji Ho Chi Minh City	66,500,000 VND/ounce	67,000,000 VND/ounce

SJC and DOJI gold prices at the close of trading on June 2nd.

On the international market , gold prices rose after news that the US House of Representatives and Senate had approved debt relief, averting the risk of default. Improved investor sentiment fueled gold's upward trend.

At 4:09 PM today (June 2nd, Vietnam time), the spot price of gold in the world market was 1,978.8 USD/ounce, an increase of 28.8 USD compared to the lowest price of 1,950 USD/ounce last night.

The sharp rise in world gold prices has narrowed the gap with domestic gold bar prices. Currently, the world gold price, converted at the current exchange rate at Vietcombank, is over 56.4 million VND/ounce (excluding taxes and fees), which is 10.67 million VND/ounce lower than the price of SJC gold bars.

Gold ring prices plummet, losing over 1 million VND per tael in half a month . Gold ring prices continued to fall today (June 1st). Compared to the peak reached half a month ago, SJC gold ring prices have dropped by more than 1 million VND per tael.

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