The world gold price this morning set a new record, causing the price of gold rings to increase sharply. Brands all raised the price of gold rings by half a million VND, approaching the price of gold bars. One brand increased the price of gold rings by 700,000 VND in the selling price after just one night.

Specifically, early this morning, Doji Gold and Gemstone Group adjusted the buying price up by VND500,000/tael and the selling price up by VND700,000/tael compared to the closing price of yesterday's trading session. This morning, Doji listed the price of 9999 round gold rings at VND77-78.4 million/tael (buy - sell).

Similarly, Saigon Jewelry Company (SJC) also increased the price of gold rings sharply. This morning, the brand's 1-5 chi gold rings were traded at 77-78.4 million VND/tael (buy - sell), an increase of 550 thousand VND/tael in the buying direction and more than 650 thousand VND/tael in the selling direction compared to the end of yesterday's trading session.

Phu Nhuan Jewelry Joint Stock Company (PNJ) also raised the price of gold rings to 77-78.39 million VND/tael, an increase of 550 thousand VND/tael in buying and 650 thousand VND/tael in selling compared to yesterday's closing price.

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Gold ring prices increase. Photo: Chi Hieu

Meanwhile, Bao Tin Minh Chau Company increased the price of Thang Long gold rings to 77.08-78.38 million VND/tael (buy - sell). Compared to the closing price of yesterday's trading session, the price of Thang Long gold rings increased by 560 thousand VND/tael in the buying direction and increased by 660 thousand VND/tael in the selling direction.

Meanwhile, the price of SJC gold bars remains unchanged. SJC gold bars are traded by brands at around 78-80 million VND/tael (buy - sell).

The price of gold rings is approaching the price of gold bars. Currently, the price of SJC gold rings is only 1 million VND/tael lower than the price of SJC gold bars for buying and 1.6 million VND/tael lower than the price of SJC gold bars for selling.

The difference between the buying and selling price of SJC gold rings is currently 1.4-1.5 million VND/tael. The gap between the buying and selling price of SJC gold bars is 2 million VND/tael.

In the international market, gold prices today hit a new peak. At the end of the weekend trading session, the world spot gold price increased to 2,507.7 USD/ounce. This is a new peak, surpassing the old record of 2,483 USD in the session of July 19.

Converted at the VND/USD exchange rate at Vietcombank, the international gold price is equivalent to more than 77 million VND/tael, including taxes and fees.

Gold prices accelerated after the US Commerce Department released data showing that new home construction in the US in July fell more than expected.

Housing is a major drag on U.S. growth. High prices and rising interest rates over the past few years have made it increasingly difficult for many Americans to buy a home.

Earlier, the US announced that inflation cooled down in July and the number of initial unemployment claims decreased. These factors strengthen the possibility that the US Federal Reserve (Fed) will cut interest rates in September.

The world gold price is currently only 3 million VND lower than the price of SJC gold bars and 1.4 million VND lower than the price of SJC gold rings.

Gold price today August 17, 2024: Gold rings skyrocketed by half a million, the world reached a new peak . Gold prices today August 17, 2024 on the world market increased by a record, soaring to an unprecedented new peak. Domestic gold ring prices immediately increased by 500,000 VND to 78.4 million VND/tael (sold), approaching the price of SJC gold bars.