Each tael of SJC gold bars and 9999 gold rings increased by 200,000-300,000 VND in this morning's trading session, currently the selling price is anchored at nearly 91 million VND/tael.
On the morning of February 17, Saigon Jewelry Company (SJC) increased the buying and selling prices of gold bars by VND300,000, currently hovering around VND87.6 - 90.6 million/tael. The difference between the buying and selling prices is VND3 million/tael.
The highest price of last week and also the record of gold bars was recorded at 90.1 - 93.1 million VND/tael (buy - sell) on February 11. Thus, each tael of SJC gold bar is still 2.5 million VND lower in both directions compared to the record peak.
Similar to SJC, other large gold companies in the market such as Phu Nhuan Jewelry Joint Stock Company (PNJ), Bao Tin Minh Chau, Phu Quy Group, DOJI Group, and Bao Tin Manh Hai also increased the price of gold bars to 90.6 million VND/tael.
Mi Hong Company alone increased by only 200,000 VND, causing SJC gold bars here to trade around the lowest price in the market of 88.8 - 90 million VND/tael.
For gold rings, businesses also adjusted the price up by nearly half a million VND per tael this morning. Of which, SJC anchored the price of 99.99 gold rings, type 1-5 chi, around 87.6 - 90.4 million VND/tael, an increase of 300,000 VND in both buying and selling compared to the closing price at the end of last week.
PNJ and Bao Tin Minh Chau both increased their buying prices by VND400,000 and their selling prices by VND300,000, currently anchoring the price of round gold rings at VND88.7 - 90.5 million/tael and VND88.95 - 90.6 million/tael, respectively.
Phu Quy also increased the price of round gold rings this morning by 200,000-300,000 VND, up to around 88.7 - 90.6 million VND/tael. Mi Hong also increased the price of 999 gold rings by 200,000 VND per tael, currently trading at 88.6 - 90 million VND/tael.
Similar to gold bars, the selling price of gold rings also peaked on February 11 at VND91.7 million/tael. Thus, up to now, the price of each tael of gold rings is still more than VND1 million away from the record.
Domestic gold prices have fluctuated continuously with strong amplitude in recent days, mainly following the developments of precious metals on the international market.
Last weekend, the world gold price had a sharp drop below the threshold. 2,900 USD /ounce. By this morning's trading session, the price of precious metals had "turned around" and increased. 16 USD , currently hovering around the threshold $2,896 /ounce.
Converted to Vietnamese currency (excluding taxes and fees), the world gold price is around 89.4 million VND/tael, more than 1 million VND/tael lower than the domestic gold price.
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