Gold ring price increased shockingly, highest in history

The price of gold rings is almost equal to the price of gold bars - Photo: NGOC PHUONG

Thus, once again the price of gold rings is close to the price of SJC gold bars.

The price of gold rings and gold bars is constantly chasing each other.

After falling below $2,620/ounce last night, the world gold price suddenly increased dramatically, and set an all-time record of $2,665.5/ounce today.

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 79.44 million VND/tael.

Today, SJC Company listed the selling price of SJC gold bars at 83.5 million VND/tael, the same as yesterday's listed price. The buying price is at 81.5 million VND/tael.

Banks in the Big4 group also kept the selling price of gold bars at 83.5 million VND/tael.

Meanwhile, the price of gold rings increased dramatically following the increase in world gold prices.

Today, SJC Company listed the selling price of 9999 gold rings at 82.3 million VND/tael, an increase of 1.2 million VND/tael compared to yesterday. The buying price increased by 800,000 VND/tael, to 80.8 million VND/tael.

At Bao Tin Minh Chau Company, the selling price of gold rings increased sharply, to 82.78 million VND/tael, an increase of 1.3 million VND/tael compared to yesterday. The buying price also increased accordingly, to 81.68 million VND/tael.

DOJI increased the selling price of 9999 gold rings to 82.8 million VND/tael, an increase of 1.3 million VND/tael compared to yesterday. The buying price increased to 81.75 million VND/tael.

At the current price, the price of 9999 gold rings is only 1.2 million VND/tael different from the price of SJC gold bars.

From the previous gap of 6-7 million VND/tael, recently the price of 9999 gold rings has continuously chased the price of gold bars. The demand for 9999 gold rings has increased while the supply is limited, causing the price of gold rings to continuously increase and almost equal the price of SJC gold bars.

Interest rates and Middle East tensions heat up gold prices

Why has the world gold price continuously increased vertically recently?

According to experts, in addition to the Fed's strong interest rate cut last week, gold prices were also fueled by rising tensions in the Middle East.

UPDATE GOLD PRICE HERE

On September 24, an Israeli airstrike on the Lebanese capital Beirut killed a senior commander of Hezbollah militants.

Experts predict that the world gold price could surpass the 2,700 USD/ounce mark this week if the situation in the Middle East becomes more tense.

In addition, gold prices were also supported as the market bet more on the possibility that the US Federal Reserve (Fed) would continue to sharply reduce interest rates at its meeting in November.

Currently, the betting rate on the possibility of the Fed cutting interest rates further at the meeting in November is very high, in which more than half bet that the Fed will cut interest rates by 0.5%, the rest believe that the Fed will cut interest rates by 0.25%.

Source: https://tuoitre.vn/gia-vang-nhan-tang-soc-cao-nhat-trong-lich-su-20240925105901188.htm