World gold prices hit a new record high today (October 23), causing domestic gold ring prices to surge dramatically.

The price of plain gold rings continues to rise. Many brands have increased the price of gold rings by more than 1 million VND per tael today, pushing the selling price to 89 million VND/tael for the first time in history.

Specifically, this morning, brands increased the price of gold rings by 300-400 thousand dong per tael compared to yesterday's closing price.

This afternoon, the price of gold rings in Vietnam continued to be adjusted sharply upwards, following the upward trend in the global market.

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The price of gold rings has surged dramatically. Photo: Nguyen Hue

The price of 9999 gold rings reached a new record high of 89 million VND/ounce (selling price) on the afternoon of October 23rd.

Specifically, this afternoon, Doji Gold and Gemstone Group raised the price of 9999 pure gold rings to 88-89 million VND/ounce (buy - sell), an increase of 1.2 million VND per ounce in both buying and selling prices compared to yesterday's closing price. This is the highest price ever for pure gold rings in the domestic market.

Similarly, Bao Tin Minh Chau Company increased the price of plain round gold rings with Thang Long dragon motif to 87.48-88.98 million VND/ounce (buying price - selling price), also an increase of 1.2 million VND per ounce in both directions.

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 87,480,000 VND/ounce 88,980,000 VND/ounce

Gold ring price chart at the close of trading on October 23rd.

Following the trend, Phu Nhuan Jewelry Company (PNJ) raised the price of gold rings to 87.6-88.9 million VND/ounce, an increase of 1.3 million VND/ounce in both buying and selling prices.

Meanwhile, Saigon Jewelry Company (SJC) increased the price of gold rings (1-5 tael) this afternoon to 87-88.5 million VND/tael (buy - sell), an increase of 1 million VND/tael in the buying price and 1.2 million VND/tael in the selling price compared to yesterday's closing price.

The price of plain gold rings has been rising continuously for the past 10 days. Compared to mid-October, each plain gold ring has increased by more than 5 million VND.

Compared to the price of 61.9-62.95 million VND/ounce at the beginning of the year's trading session (January 3rd), the price of SJC gold rings has now increased by 25.1 million VND/ounce for buying and 25.55 million VND/ounce for selling.