On the afternoon of July 11, the price of gold rings exceeded that of gold bars.

At 3:30 p.m. this afternoon, SJC listed the price of gold rings at 74.98 - 77.01 million VND/tael (buy - sell). Meanwhile, the price of gold bars was listed at 74.98 - 76.98 million VND/tael (buy - sell).

Thus, the price of gold rings is 30,000 VND/tael higher than the price of gold bars.

At the same time, Doji listed the price of gold rings at 75.6 - 76.8 million VND/tael (buy - sell), and the price of gold bars was listed at 75.98 - 76.98 million VND/tael (buy - sell).

Previously, the price of gold rings was always stable and followed the world gold price more closely than SJC gold. The price of gold rings was also always "below" the price of SJC gold bars, at times being lower by up to tens of millions of VND/tael.

Over the past decade (2014-2023), the price of gold rings has not fluctuated as much as gold bars. The buying and selling gap has mainly remained at the range of 0.5-1 million VND/tael.

However, since February, the price of gold rings has continuously set new records. On April 1, the price of gold rings surpassed the old peak, reaching 71 million VND/tael for the first time. On April 9, the price of gold rings increased wildly, reaching a new peak of 77 million VND/tael. On April 10, the price of gold rings continued to rise, reaching a new peak of 78 million VND/tael.

After that, the price of gold rings cooled down. From mid to late April, the price of gold rings increased and decreased around the price range of 76-78 million VND/tael.

Since June 3, when the State Bank of Vietnam (SBV) sold gold to stabilize prices through four state-owned commercial banks and SJC Company, the price of SJC gold bars has been "frozen" at the price range of 74.98 - 76.98 million VND/tael (buy - sell).

Meanwhile, the price of gold rings is continuously adjusted by businesses in line with the world gold price. The price of gold rings in June increased/decreased by up to 1 million VND/tael.

Up to now, thanks to the continuous increase, the price of gold rings has surpassed the price of gold bars.

According to experts, gold rings are the best performing investment channel since the beginning of the year. The price of gold rings has increased by nearly 22%. Meanwhile, SJC gold bars have only increased by more than 4%.

From always being lower than the price of SJC gold, the price of gold rings is now equal to and at times exceeds the price of SJC gold bars. In the context of high world gold prices, the price of gold rings may continue to increase in the near future.