At 2:17 p.m. on April 9, DOJI Gold and Gemstone Group raised the price of plain round gold rings to VND75.55-77.25 million/tael (buy - sell), an increase of VND1.8 million/tael for buying and VND2.1 million/tael for selling compared to yesterday's closing price. This is the highest price ever for domestic gold rings.

At 2:20 p.m., Bao Tin Minh Chau Company listed the price of Thang Long Dragon gold rings at 75.53-77.03 million VND/tael (buy - sell).

Compared to yesterday's closing price, the price of Thang Long gold rings this afternoon was 1.7 million VND/tael more expensive for buying and 1.8 million VND/tael more expensive for selling.

Gold ring prices of other brands also increased sharply, setting new records.

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Gold ring prices increase. Photo: Chi Hieu

Saigon Jewelry Company (SJC) also adjusted the price of gold rings to increase. At 2:31 p.m., SJC listed the price of 9999 gold rings of 1-5 chi in Ho Chi Minh City at 73.7-75.1 million VND/tael, an increase of 800,000 VND/tael in both buying and selling compared to the closing price yesterday.

The price of gold rings of Phu Nhuan Jewelry Joint Stock Company (PNJ) in the early afternoon increased by 900 thousand VND/tael in buying price and 750 thousand VND/tael in selling price compared to the closing price yesterday, bought and sold at 14:19 at the price of 73.8-75.1 million VND/tael.

Following the same trend, domestic gold bar prices also increased sharply today.

From morning to early afternoon today, the price of SJC gold bars increased by a total of 1.7 million VND/tael in both directions compared to the closing price yesterday, listed at 2:31 p.m. at 82.1-84.1 million VND/tael.

From this morning to early afternoon, DOJI also increased the price of gold bars by 1 million VND/tael for buying and 1.1 million VND/tael for selling compared to the closing price yesterday. At 13:36, DOJI listed the price of gold bars at 80.5-83.2 million VND/tael (buying - selling).

Domestic gold prices increased sharply in the context of high world gold prices . At 1:46 p.m. on April 9 (Vietnam time), the world spot gold price was at 2,344 USD/ounce, up 16 USD/ounce compared to last night.

Converted at the current exchange rate at Vietcombank , world gold is currently priced at more than 71.01 million VND/tael (excluding taxes and fees).

Thus, compared to the world gold price, each tael of SJC gold bar is about 13.09 million VND more expensive, while the price of SJC gold ring is 4.09 million VND higher.

According to experts, people are tending to sell SJC gold bars to switch to gold rings because they are worried that the State Bank will abandon its monopoly on SJC gold bars. Because many people switch to buying plain gold rings, the price of this item increases.

Since the beginning of the year, the price of 24k plain gold rings has increased by about 14 million VND per tael and has continuously broken records. Meanwhile, the price of SJC gold bars has increased by about 8 million VND per tael since the beginning of the year.