Will gold ring prices peak in the new week?

As of the survey time at 8:00 a.m. on September 30, demand for gold rings increased while supply was limited, leading to continuous price increases, even when world gold prices did not increase.

The price of plain round gold rings has continuously set records, ending the week listed by businesses at 81.5-83 million VND/tael (buy - sell). The 0.3-0.5 gold type was only sold at 83.1 million VND/tael. Compared to the beginning of the year, each tael of plain gold rings has increased by more than 20 million VND, equivalent to a profit of over 30%.

The price of gold rings is still at its highest level since the beginning of the year. Photo: Can Dung

Currently, DOJI is listing the price of 9999 plain round gold rings at 82.75-83.45 million VND/tael (buy - sell). This is the highest price ever for plain round gold rings in the country.

At SJC, the price of gold rings from 1-5 is listed at only 81.5-83 million VND/tael (buy - sell). Bao Tin Minh Chau listed the price of Thang Long dragon gold rings at 82.54-83.44 million VND/tael (buy - sell).

Weekly, DOJI gold ring price increased by 3.35 million VND/tael for buying and 2.9 million VND/tael for selling. SJC gold ring price increased by 2.6 million VND/tael for buying and 2.8 million VND/tael for selling.

Since the beginning of the year, the price of SJC gold rings has increased by 19.6 million VND/tael for buying and 20.05 million VND/tael for selling.

1. DOJI - Updated: September 30, 2024 15:20 - Time of the source website - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
AVPL/SJC HN	81,500	83,500
AVPL/SJC HCM	81,500	83,500
AVPL/SJC DN	81,500	83,500
Raw material 9999 - HN	82,600 ▼100K	82,800 ▼1200K
Raw materials 999 - HN	82,500 ▼100K	82,700 ▼1200K
AVPL/SJC Can Tho	81,500	83,500

2. PNJ - Updated: September 30, 2024 16:02 - Time of website supply source - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	82,500	83,300
HCMC - SJC	81,500	83,500
Hanoi - PNJ	82,500	83,300
Hanoi - SJC	81,500	83,500
Da Nang - PNJ	82,500	83,300
Da Nang - SJC	81,500	83,500
Western Region - PNJ	82,500	83,300
Western Region - SJC	81,500	83,500
Jewelry gold price - PNJ	82,500	83,300
Jewelry gold price - SJC	81,500	83,500
Jewelry gold price - Southeast	PNJ	82,500
Jewelry gold price - SJC	81,500	83,500
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	82,500
Jewelry gold price - Jewelry gold 999.9	82,400	83,200
Jewelry gold price - Jewelry gold 999	82,320	83,120
Jewelry gold price - Jewelry gold 99	81,470	82,470
Jewelry gold price - 916 gold (22K)	75,810	76,310
Jewelry gold price - 750 gold (18K)	61,150	62,550
Jewelry gold price - 680 gold (16.3K)	55,330	56,730
Jewelry gold price - 650 gold (15.6K)	52,830	54,230
Jewelry gold price - 610 gold (14.6K)	49,500	50,900
Jewelry gold price - 585 gold (14K)	47,420	48,820
Jewelry gold price - 416 gold (10K)	33,360	34,760
Jewelry gold price - 375 gold (9K)	29,950	31,350
Jewelry gold price - 333 gold (8K)	26,210	27,610

3. AJC - Updated: 09/30/2024 00:00 - Source website time - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
Jewelry 99.99	8,155 ▼15K	8,345
99.9 Jewelry	8,145 ▼15K	8,335
NL 99.99	8,175 ▼30K
Round ring, sealed in blister pack T.Binh	8,175 ▼30K
Round, 3A, Yellow T.Bình	8,245 ▼30K	8,345
Round, 3A, Yellow N.An	8,245 ▼30K	8,345
Round, 3A, Yellow Street, Hanoi	8,245 ▼30K	8,345
SJC Thai Binh pieces	8,150	8,350
SJC Nghe An pieces	8,150	8,350
SJC Hanoi Piece	8,150	8,350

4. SJC - Updated: 09/30/2024 08:27 - Website time of supply - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
SJC 1L, 10L, 1KG	81,500	83,500
SJC 5c	81,500	83,520
SJC 2c, 1c, 5 phan	81,500	83,530
SJC 99.99 gold ring 1 chi, 2 chi, 5 chi	81,500	83,000
SJC 99.99 gold ring 0.3 chi, 0.5 chi	81,500	83,100
Jewelry 99.99%	81,450	82,700
Jewelry 99%	79,881	81,881
Jewelry 68%	53,892	56,392
Jewelry 41.7%	32,139	34,639

According to Kitco, the world gold price recorded at 5am today, Vietnam time, was 2,664.13 USD/ounce. Today's gold price is unchanged from yesterday's gold price. Converted to the USD exchange rate, on the free market (25,330 VND/USD), the world gold price is about 81.93 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 1.56 million VND/tael higher than the international gold price.

According to the latest Kitco News survey, experts forecast a balance between upside and downside in the coming period. Retail investors remain optimistic but cautious about the potential upside in precious metals this week.

Darin Newsom, senior market analyst at Barchart, said that gold prices will continue to rise. Gold prices are in an upward trend. In the current context of geopolitical instability, gold is considered a safe haven.

However, another reason why gold’s rally could be limited is weak demand in China. Beijing has just announced a series of measures to support the economy, stock market and real estate. As Chinese stocks and real estate rebound, demand for gold could decline. Middle-class Chinese will no longer put their money into gold as a safe investment.

Source: https://congthuong.vn/gia-vang-nhan-se-dat-dinh-cao-trong-tuan-moi-349174.html