Gold ring prices surge in anticipation of the God of Wealth Day.

Saigon Jewelry Company (SJC) increased the price of 9999 gold rings by 100,000 VND per tael, with the buying price rising to 62.8 million VND and the selling price to 64.1 million VND. Meanwhile, some companies reduced the price of gold rings by 200,000 - 300,000 VND per tael. Bao Tin Minh Chau Company bought gold rings at 63.78 million VND and sold them at 64.88 million VND. Doji Group bought them at 63.45 million VND and sold them at 64.65 million VND…

Conversely, the price of SJC gold bars decreased by another 300,000 VND per ounce compared to the beginning of the morning. SJC Company bought at 73.5 million VND and sold at 76 million VND. Doji Group bought at 73.45 million VND and sold at 75.95 million VND. Bao Tin Minh Chau Company bought at 73.55 million VND and sold at 75.85 million VND…

Gold ring prices are near record highs.

Unlike previous sessions where the price of gold bars fluctuated sharply, attracting market attention, the price of gold rings is now rising and falling unpredictably. This has led to SJC gold bars being 15.8 million VND/ounce higher than the world price, and gold rings being 3.8 million VND/ounce higher. The price gap for gold rings has been widening in recent days. The price of precious metals on the international market fell by 7 USD/ounce today, to 2,023 USD/ounce.

Explaining the fluctuating and high price of gold rings, Mr. Nguyen Ngoc Trong - Director of New Partner Gold Company, said that gold traders are preparing gold for the sale on the day of the God of Wealth (the 10th day of the Lunar New Year), so the demand for gold rings is increasing. Unless international gold prices fluctuate sharply downward, forcing domestic prices to fall accordingly, prices will remain high during this period.

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