SJC gold bars surged to 88 million VND per tael.

Amidst the continuous record-breaking global gold prices, domestic SJC gold bars were also adjusted upwards on October 21st to maintain a reasonable price difference between the two markets, avoiding the large discrepancies seen previously compared to world gold prices.

Specifically, at 9:00 AM, Saigon Jewelry Company (SJC) announced the price of SJC gold bars at 86 - 88 million VND/ounce (buying price - selling price), an increase of 2 million VND/ounce in both buying and selling prices compared to the closing price yesterday.

Similarly, DOJI Gold and Gemstone Group announced the selling price of SJC gold bars at 86 - 88 million VND/ounce (buying price - selling price), an increase of 2 million VND/ounce in both buying and selling prices compared to the closing price yesterday. The difference between the buying and selling price of SJC gold at Saigon Jewelry Company (SJC) and DOJI Group is at 2 million VND/ounce.

Regarding the price of gold rings, DOJI Gold and Gemstone Group listed the price at 84.7 - 85.7 million VND/ounce (buying price - selling price), maintaining the same listed price for both buying and selling compared to the closing price yesterday. The difference between the buying and selling price of gold rings at DOJI Group is 1 million VND/ounce.

On the global market, gold has experienced a price surge, reaching a peak of $2,722 per ounce on October 18th. Large amounts of money have continuously flowed into gold as investors believe in the easing of global monetary policy by the US and increased geopolitical instability, leading them to seek safe-haven assets like this precious metal. The world's leading gold trust, SPDR Gold Trust, purchased over 10.6 tons of gold this week.

According to experts, this week, apart from two sessions of strong price increases, the gold bullion market was quite quiet and there were almost no notable developments. Investors shifted their attention to gold rings, which increased in price in line with the breakthroughs of world gold prices. With the recent strong price surge, surpassing the $2,700/ounce mark, domestic gold rings also experienced a booming trading week and reached an all-time high price, stopping at nearly 86 million VND/ounce.

According to VNA

Source: https://doanhnghiepvn.vn/kinh-te/vang-mieng-sjc-vot-tang-len-88-trieu-dong-luong/20241021121954023