Domestic gold prices maintained record levels while global gold prices reversed course and fell from their peak of $2,758 per ounce set yesterday.

Specifically, Doji Gold and Gemstone Group lowered the price of 9999 gold rings to 87.95-88.95 million VND/ounce this morning, a decrease of 50,000 VND per ounce in both buying and selling prices compared to the close of yesterday's trading session.

However, this afternoon, Doji raised the price of 9999 gold rings to 88-89 million VND/ounce (buy - sell), an increase of 50,000 VND per ounce in both directions.

vang chi hieu 1.jpg
Gold ring prices remain at record levels. Photo: Chi Hieu

The price of 89 million VND/ounce is the highest ever recorded for plain gold rings in Vietnam. This record price for gold rings in the domestic market was first set yesterday.

Bao Tin Minh Chau Company today increased the buying price of plain round gold rings (Thang Long gold) to 87.98 million VND/ounce, an increase of 500,000 VND compared to yesterday's closing price. The selling price of Thang Long gold rings remained at 88.98 million VND/ounce, the same as yesterday's closing price.

Meanwhile, Phu Nhuan Jewelry Company (PNJ) maintained the price of gold rings at yesterday's closing level, trading in the range of 87.6-88.9 million VND/ounce (buy - sell).

Buy Sell
SJC 87,000,000 VND/ounce 88,500,000 VND/ounce
Doji 88,000,000 VND/ounce 89,000,000 VND/ounce
PNJ 87,600,000 VND/ounce 88,900,000 VND/ounce
Thang Long Dragon Gold 87,980,000 VND/ounce 88,980,000 VND/ounce

Domestic gold ring prices at the close of trading on October 24th.

Similarly, Saigon Jewelry Company (SJC) maintained yesterday's closing price, with gold rings weighing 1-5 taels being bought and sold at 87-88.5 million VND/tael.

Today's price of gold rings is the highest in the domestic market. Compared to mid-October, each ounce of plain gold ring has increased by more than 5 million VND.

Compared to the beginning of the year, the price of gold rings in Vietnam has increased by more than 25 million VND per tael.

Today, the price of SJC gold bars remains stable in the range of 87-89 million VND/ounce (buy - sell).

Notably, the selling price of gold rings at some brands has equaled the price of gold bars. Meanwhile, the buying price of gold rings by businesses has been higher than the buying price of SJC gold bars by 600,000 to 1,000,000 VND per tael.