Gold ring price increased by 150,000 VND per tael

(HNMO) - The sharp increase in world gold prices has helped domestic precious metal prices rise, with ring gold prices increasing by VND150,000 per tael on the morning of June 9.

Gold prices rise.

Last night's trading session, the world gold price "increased" by more than 1%, reaching 1,964.6 USD/ounce in the context of the market expecting the US to stop raising interest rates. At nearly 9:00 this morning, the gold price was trading at 1,964 USD/ounce.

In the domestic market, also at the same time, Saigon Jewelry Company Limited listed the price of SJC gold bars at 66.5 million VND/tael (buy) - 67.1 million VND/tael (sell), an increase of 100,000 VND/tael each way compared to the end of June 8.

Phu Quy SJC Group also increased by 100,000 VND/tael each way, to 66.5 million VND/tael (buy) - 67.1 million VND/tael (sell).

In the same trend, Vietnam Export Import Commercial Joint Stock Bank set the price at 66.45 million VND/tael (buy) - 66.85 million VND/tael (sell), 50,000 VND/tael higher than the end of the previous day in each direction.

Meanwhile, the price of gold rings increased more strongly. For example, Phu Quy Group increased the price of 99.9% round gold rings by VND150,000/tael each way, to VND55.75 million/tael (buy) - VND56.6 million/tael (sell).

Saigon Jewelry Company Limited listed the price of gold rings type 1-5 at only 55.6 million VND/tael (buy) - 56.55 million VND/tael (sell), 150,000 VND/tael higher than the end of the previous day.

Not only did it increase more strongly, the buying and selling price range of gold rings was also wider than that of gold bars, at 850,000-950,000 VND/tael and 400,000-600,000 VND/tael respectively.

Domestic gold prices increased but at a slower rate than world prices. As a result, the price difference between the two markets decreased to about VND10.9 million/tael instead of about VND11.3 million/tael the previous day.

Source