Gold rings exceed 69 million VND

24K plain rings increased by several hundred thousand dong this morning, setting a new record - 69 million dong per tael.

On the morning of March 8, the price of 24K gold rings was adjusted up by major business brands and broke the previously set records. The listed prices between brands differed by several hundred thousand VND per tael, today some places exceeded 69 million VND.

At Saigon Jewelry Company (SJC), each tael of gold rings increased by VND150,000 at noon today compared to the end of yesterday, to VND67.05 - 68.3 million. At DOJI Jewelry Group, 24K gold increased to VND67.7 - 68.95 million. At Bao Tin Minh Chau, the price of this type of gold increased to VND67.8 - 69 million per tael.

Since the beginning of the year, plain gold rings have increased by about 5 million VND per tael, equivalent to nearly 8%.

Contrary to the consistent upward trend of gold rings, SJC gold bars today turned down 300,000 VND per tael. At 11am, SJC listed this type at 79.5 - 81.5 million VND, DOJI was 79.45 - 81.45 million VND per tael.

In the international market, the price of gold also reached a peak for the third consecutive session, reaching 2,164 USD per ounce. At 11:00 a.m. Hanoi time, the world price was 2,156 USD per ounce, converted at Vietcombank exchange rate, equivalent to 64.65 million VND per tael. Thus, the difference between domestic and world gold bars is nearly 17 million VND, while gold rings are 3.6-4.4 million VND higher per tael.

In previous years, 24K gold was often bought as a gift, however, this item has recently recorded a large purchasing power due to accumulated demand. Concerns about policy changes in the gold bar market have caused many people to pour money into plain rings.

In Ho Chi Minh City, employees of major brands such as DOJI and PNJ said that for many days now, regular goods have been out of stock and are given priority to pre-ordered orders. Plain rings have arrived, but they quickly sold out within the day when people bought hundreds of taels.

At SJC, the number of retail customers buying 24K gold rings has also increased dramatically. At one point, the store temporarily ran out of stock of 1-tael rings because many people asked to buy them. This is a phenomenon that, according to SJC staff, has not happened in recent years.

Quynh Trang

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