Gold ring price skyrocketed, reaching 80.2 million VND/tael

World gold prices set a new record every day after the US Federal Reserve (Fed) lowered interest rates - Screenshot

Gold prices set new records

Today, September 21, SJC Company listed the price of 9999 gold rings at 80.2 million VND/tael, an increase of 200,000 VND/tael compared to yesterday. The buying price increased sharply to 78.9 million VND/tael.

Bao Tin Minh Chau Company listed the selling price of 9999 gold rings at 80.54 million VND/tael, buying at 79.39 million VND/tael.

DOJI increased the selling price of 9999 gold rings to 80.55 million VND/tael, and bought at 79.4 million VND/tael.

This is also a record price for gold rings. The price of gold rings was pushed up after the world gold price increased by 36.3 USD/ounce in yesterday's session, reaching a new record of 2,622.4 USD/ounce.

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 78.27 million VND/tael.

Compared to the converted world gold price, the price of 9999 gold rings is 1.93 - 2.27 million VND/tael higher.

Gold ring buyers "make big profits"

Since the beginning of the year, gold ring buyers have "profited" up to 17.25 million VND/tael - Photo: PHUONG QUYEN

Compared to the price of 9999 gold rings at SJC Company at the beginning of this year, which was 61.85 million VND/tael - 62.95 million VND/tael (buy - sell), buyers of gold rings from the beginning of the year until now have "profited" up to 17.25 million VND/tael.

Compared to the price of gold rings at the beginning of 2023, which was 54 million VND/tael, those who bought gold rings and kept them until now have made a total profit of 26.2 million VND/tael, equivalent to a profit of 48.52%.

This is an almost "unimaginable" profit for gold investors because previously for a long time the price of SJC gold bars stood still at 67 million VND/tael, while the price of 9999 gold rings hovered around 54 million VND/tael.

Not only gold ring buyers make a profit, but also SJC gold bar buyers make a big profit, especially if they close the sale in May 2024, when the selling price of SJC gold bars reaches 92.4 million VND/tael, and the purchase price is 90 million VND/tael.

If you buy SJC gold bars at the beginning of the year and keep them until now, you will only make a profit of 8 million VND/tael.

Please read the updated domestic gold price developments HERE.

According to records, although the price of 9999 gold rings has increased, it is currently very difficult to buy gold rings.

This scarcity has been happening in the market for the past few months due to limited supply of raw materials. Gold companies are also cautious because currently the authorities are stepping up inspection and examination of the gold market, including tracing the origin of raw gold.

In addition, for more than 10 years, the State Bank has not granted licenses to companies to officially import raw gold to produce gold rings and jewelry.

According to recent records, many gold shops have reported running out of gold rings, or have to pay in advance and receive gold later...

Source: https://tuoitre.vn/gia-vang-nhan-tang-phi-ma-dat-80-2-trieu-dong-luong-20240921154604247.htm