After increasing continuously since the beginning of last week to an unprecedented high, the price of gold rings in the country has sharply decreased this morning. Some brands have reduced the price of gold rings by more than 1 million VND per tael, losing the mark of 78 million VND/tael.

Specifically, at 10:03 a.m. on April 11, DOJI Gold and Gemstone Group listed the price of plain round gold rings at 75.55-77.4 million VND/tael (buy - sell). Compared to the closing price yesterday, the price of plain round gold rings at DOJI this morning decreased by 1.25 million VND/tael for buying and 1.2 million VND/tael for selling.

Gold ring prices of other brands also reversed and decreased rapidly.

At 10:33 a.m., Bao Tin Minh Chau Company lowered the price of Thang Long Dragon gold rings to 75.68-77.48 million VND/tael (buy - sell), down 1.2 million VND/tael for buying and down 1 million VND/tael for selling compared to yesterday's closing price.

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Gold ring prices drop sharply. Photo: Chi Hieu

Similarly, Saigon Jewelry Company (SJC) also quickly reduced the price of gold rings. At 9:57 a.m., SJC listed the price of 9999 gold rings of 1-5 chi in Ho Chi Minh City at 74.8-76.5 million VND/tael (buy - sell), down 200,000 VND/tael in both directions compared to the closing price yesterday.

Phu Nhuan Jewelry Joint Stock Company (PNJ) early this morning adjusted down 100 thousand VND/tael in both buying and selling prices compared to yesterday's closing price, buying - selling gold ring prices at 74.8 - 76.6 million VND/tael.

Meanwhile, the price of gold bars at SJC early this morning was adjusted down 200,000 VND/tael in both directions compared to the closing price yesterday.

However, by noon today, the price of SJC gold bars increased by 400 thousand VND/tael, listed at 10:25 am at 82.6-84.6 million VND/tael (buy - sell).

This morning, DOJI reduced the price of gold bars by 100,000 VND/tael in both buying and selling compared to yesterday's closing price. At 10:15 am, DOJI listed the price of gold bars at 82.2-84.2 million VND/tael (buying - selling).

In the world market , the price of gold decreased in the early morning and then increased again. At 10:28 a.m. on April 11 (Vietnam time), the world spot gold price was at 2,344.2 USD/ounce, up 10.2 USD/ounce compared to last night.

Converted at the current exchange rate at Vietcombank , world gold is currently priced at nearly 71.06 million VND/tael (excluding taxes and fees).

Thus, compared to the world gold price, each tael of SJC gold bar is about 13.54 million VND more expensive, while the price of SJC gold ring is 5.17 million VND higher.