Gold bar and gold ring prices increase sharply

Specifically, at 9:00 a.m., Saigon Jewelry Company (SJC) announced the price of SJC gold bars at 81 - 84 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and an increase of 500,000 VND/tael for selling compared to the closing price of last weekend (November 16).

DOJI Gold and Gemstone Group announced the selling price of SJC gold bars at 81 - 84 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and an increase of 500,000 VND/tael for selling compared to the closing price last weekend.

Similarly, the price of gold rings also increased sharply. At Saigon Jewelry Company SJC, the price of gold rings was announced at 80.5 - 83 million VND/tael (buy - sell), an increase of 700,000 VND/tael in both buying and selling compared to the closing price of last weekend.

Meanwhile, DOJI Gold and Gemstone Group listed the price of gold rings at 81.4 - 82.7 million VND/tael (buy - sell), keeping the listed price for both buying and selling unchanged compared to the closing price of last weekend.

On the world market, at around 1:42 a.m. on November 16, Vietnam time, the spot gold price decreased by 0.1% to 2,565.49 USD/ounce. This precious metal has decreased by more than 4% this week.

US gold futures fell 0.1% to $2,570.10 an ounce. The dollar is headed for its biggest weekly gain in more than a month, making gold more expensive for buyers holding other currencies.

According to forecasts, the world gold price next week is expected to move sideways and gradually recover, while the domestic gold bar price will also recover within the range of 500,000 - 1.5 million VND/tael because the domestic gold bar price is still much higher than the world gold price. Only when the world gold price exceeds the mark of 2,650 USD/ounce, can the domestic gold bar price return to the price range of 86 million VND/tael.