Plain gold rings up to 88 million VND per tael

The price of plain rings at major brands continued to increase from yesterday evening to this morning, reaching 88 million VND for the first time.

While gold price SJC gold pieces remain at 87 - 89 million per tael, because the State Bank has not changed the intervention price, the price of plain rings is still going up.

Saigon Jewelry Company (SJC) this morning increased by 300,000 VND per tael compared to the end of yesterday, listing the price of plain rings at 86.3 - 87.6 million VND. The price list for buying and selling plain rings at DOJI Jewelry Group at 9:00 a.m. was 87 - 88 million VND, an increase of 200,000 VND compared to the end of yesterday.

Plain rings have been continuously increasing for the past 10 days. Compared to mid-month, each tael of plain rings has increased by more than 4.5 million VND. Compared to the beginning of the year, plain rings have increased by nearly 25 million VND per tael, equivalent to an efficiency of 39%.

This is the wedding season at the end of the year and the demand for gold rings as wedding gifts increases, but it is not easy for people to buy this item at big brands. Big brands such as DOJI, PNJ, Bao Tin Minh Chau are often out of stock. Retail customers are only lucky to buy a small quantity if the store has just had a sale. Meanwhile, at SJC, branches limit the maximum purchase amount to 5 to 1 tael per person.

In the international market, each ounce of gold has increased sharply by more than 100 USD in the past 5 days. The precious metal reached a record high of nearly 2,750 USD at one point, before falling to 2,738 USD this morning. Converted according to Vietcombank's selling rate, the domestic gold price is 3.5-5 million VND per tael different from the world price.

According to forecasts from the world's leading banks, the world gold price could reach 3,000 USD per ounce next year. Experts recommend that investors allocate a small proportion of their portfolio to this safe haven, especially in the context of the precious metal's sharp increase in recent times.

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