Gold bar prices skyrocket again

At 10:00 a.m. on February 27, SJC gold prices were simultaneously pushed up by businesses.

This morning, SJC increased the price of each tael of gold bar by at least half a million VND to 77.5 million VND/tael for buying and 79.5 million VND/tael for selling, close to the peak set at the end of last year.

PNJ Company bought SJC gold at a higher price: 75.7 million VND/tael, sold at 79.5 million VND/tael. Meanwhile, DOJI Group bought at 77.45 million VND/tael, sold at 79.45 million VND/tael.

SJC gold price has increased for the third consecutive day with a total increase of nearly 1 million VND/tael. SJC gold is approaching the 80 million VND/tael mark, the difference between buying and selling prices continues to be maintained at a very high level of about 2 million VND/tael.

Not only gold bars, the price of gold rings and 24K jewelry gold of all kinds also increased but at a slower rate. The price of gold rings this morning was listed by businesses at 63.75 million VND/tael for buying and 64.95 million VND/tael for selling, an increase of 200,000 VND/tael compared to yesterday.

Thus, the price of SJC gold is 14.5 million VND/tael higher than the price of gold rings, even though both are 99.99% quality gold.

Notably, domestic gold prices increased despite the international market where prices of this precious metal tended to decrease or stagnate.

At 10:00 a.m. this morning (Vietnam time), the world gold price was at 2,032 USD/ounce, down slightly from the previous day. Currently, the world gold price converted according to the listed exchange rate is around 60.8 million VND/tael, lower than ring gold by over 4 million VND/tael and lower than SJC gold by 18.7 million VND/tael.