Plain ring price exceeds SJC gold bar

The price of 24K plain rings at many brands has increased sharply, for the first time in many years, nearly half a million VND higher than SJC gold bars.

Morning of July 12, gold price Plain rings at major brands have all increased following world developments. Saigon Jewelry Company (SJC) listed gold rings at 75.1 - 76.7 million, up nearly 500,000 VND per tael compared to yesterday.

At DOJI Gold and Gemstone Group, the price of plain rings increased to 76.15 - 77.4 million VND. Bao Tin Minh Chau also increased, at 75.88 - 77.18 million VND per tael of 24K gold.

Meanwhile, SJC gold bars continued to move sideways, at 75.48 - 76.98 million VND per tael. This level has been maintained for the past month, when the State Bank kept the intervention price for SJC and 4 state-owned banks unchanged at 75.98 million. Thus, this is the first time in many years that domestic gold rings have risen higher than SJC gold bars, by nearly half a million VND per tael (depending on the enterprise).

In the international market, spot gold prices rose highest nearly 2 months, anchored around 2,406 USD per ounce, converted according to Vietcombank selling rate equivalent to 73.9 million VND. The difference between SJC gold bars and the world is currently 2.8 million VND per tael.

Since the State Bank "determined" the price of gold bars by selling them to the market, the gap between this type and the world has narrowed rapidly. However, it is not easy to buy gold bars at SJC and 4 banks as the online registration portal is often full from early morning.

Source