The price of gold rings at Phu Nhuan Jewelry Joint Stock Company (PNJ) today increased by 200,000 VND/tael in both buying and selling compared to yesterday's closing price, listed at the end of the session at 75-76.7 million VND/tael (buy - sell).

Yesterday, the price of gold rings at PNJ also increased by 200,000 VND/tael for buying and increased by 100,000 VND/tael for selling.

Thus, after two sessions, the price of gold rings at PNJ increased by 400 thousand VND/tael in buying and increased by 300 thousand VND/tael in selling.

Similarly, Saigon Jewelry Company (SJC) also raised the price of gold rings to a high level. The price of 9999 gold rings of 1-5 chi of SJC in Ho Chi Minh City was bought and sold at the end of this afternoon at 74.95-76.55 million VND/tael, an increase of 100 thousand VND/tael in both directions compared to the closing price yesterday.

In the last two sessions, the price of SJC gold rings increased by 150 thousand VND/tael each way.

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Gold ring prices increase. Photo: Chi Hieu

Bao Tin Minh Chau Company listed the price of Thang Long Dragon gold rings at 75.42-76.82 million VND/tael (buy - sell), an increase of 140 thousand VND/tael for buying and 90 thousand VND/tael for selling compared to yesterday's closing price.

Yesterday, the price of Thang Long Dragon Gold Ring increased by 70 thousand VND/tael each way. Thus, after two sessions, the price of this brand's smooth round gold ring increased by 210 thousand VND/tael in the buying direction and increased by 160 thousand VND in the selling direction.

This afternoon, Doji Gold and Gemstone Group listed the price of 9999 round smooth gold rings at 75.4-76.8 million VND/tael (buy - sell), an increase of 100,000 VND/tael for buying and 50,000 VND/tael for selling compared to the end of yesterday.

Yesterday, the price of plain round gold rings at Doji also increased by 50,000 VND/tael in both directions. From yesterday to today, the price of gold rings at Doji increased by 150,000 VND/tael in buying and increased by 100,000 VND/tael in selling.

Domestic gold bar prices skyrocketed today, returning to the threshold of 90 million VND per tael after news that the State Bank stopped bidding for SJC gold bars.

In a notice issued on the evening of May 27, the State Bank said it would stop auctioning gold bars but would implement an alternative stabilization plan as soon as possible, expected to start from June 3.

SJC gold bar price today increased by 600 thousand VND/tael each way compared to yesterday's closing price, listed at the end of the session at 88.5-90.5 million VND/tael (buy - sell).

Gold bar prices at Doji also increased by 700,000 VND/tael in both directions compared to yesterday's closing price, closing at 88.4-90 million VND/tael (buy - sell).

In the international market, gold prices tend to decrease. At 4:30 p.m. on May 28 (Vietnam time), the spot gold price was at 2,343.1 USD/ounce, down 11.1 USD/ounce compared to last night.

World gold converted at the current exchange rate at Vietcombank costs more than 71.9 million VND/tael (excluding taxes and fees).

Thus, compared to the world gold price, the price of SJC gold bars is currently 18.6 million VND/tael higher while the price of SJC gold rings is 4.65 million VND/tael more expensive.

Gold price today May 28, 2024: SJC suddenly increased sharply when stopping gold bidding . Gold price today May 28, 2024, domestic SJC gold bars increased sharply by half a million VND, up to 90.5 million VND/tael (sold) before the information about stopping gold bidding from the State Bank. World gold prices also increased due to the decline of the USD.