Why the price of gold rings is higher than SJC

This morning (February 27), the domestic gold price dropped sharply to 91 million VND/tael. The price of SJC gold bars dropped rapidly, causing the price of gold rings to be higher than that of gold bars.

Saigon Jewelry Company listed price SJC gold bars 89 - 91.3 million VND/tael for buying - selling, down 1.1 million VND/tael for buying, 900,000 VND/tael for selling compared to yesterday morning.

Bao Tin Minh Chau Company Limited and Phu Quy Gold and Gemstone Group jointly listed gold price SJC pieces 89.3 - 91.3 million VND/tael, down 800,000 VND/tael for buying, 900,000 VND/tael for selling.

Mi Hong gold system listed the price of SJC gold bars at 90.6 - 91.5 million VND/tael.

Price gold ring also decreased following SJC gold bars but the decrease was less. Specifically, Bao Tin Minh Chau Company Limited listed the price of gold rings at 90.2 - 91.8 million VND/tael, down half a million VND/tael for buying and 400,000 VND/tael for selling compared to yesterday morning.

The price of gold rings is higher than that of SJC gold bars (photo: Nhu Y).

Phu Quy Gold and Gemstone Group listed the price of gold rings at 90.1 - 91.6 million VND/tael.

Thus, the price of gold rings after the decrease is 300,000 - 500,000 VND/tael higher than the selling price of SJC gold bars.

At the same time, the price of gold world listed at 2,919 USD/ounce, down 2 USD/ounce compared to the listed gold price this morning.

This morning, Bank State listed central rate at 24,668 VND/USD, up 22 VND compared to yesterday morning.

At commercial banks, prices USD increased sharply compared to the same time yesterday. Specifically, Vietcombank and BIDV simultaneously increased by 70 VND per USD in both buying and selling directions, raising the exchange rate to 25,380 - 25,740 VND/USD.

VietinBank also increased the USD buying price by 167 VND and the selling price by 133 VND, raising the exchange rate to 25,372 - 25,785 VND/USD. VietinBank is also the bank listing the highest USD selling price on the market.

In the free market, the USD price increased by 10 VND for buying and 40 VND for selling compared to the previous trading session, currently trading at 25,670 - 25,770 VND/USD.

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