Gold ring price up to 100 million VND per tael

At 11:00 a.m. on March 19, plain gold rings hit the three-digit mark for the first time - 100 million VND/tael. Accordingly, Bao Tin Minh Chau Company announced the selling price of gold rings to reach 100 million VND/tael, an increase of 300,000 VND compared to the beginning of the day. The buying price listed by the company is 98.45 million VND/tael.

At Phu Nhuan Jewelry Company (PNJ), gold rings increased to 97.9 - 99.6 million VND/tael, other brands increased to 97.9 - 99.4 million VND/tael.

At the opening of the day, Saigon Jewelry Company (SJC) listed the price of gold rings at 97.5 - 99 million VND/tael (buy - sell), an increase of 500,000 VND/tael compared to the end of yesterday. At PNJ, plain gold rings increased to 97.7 - 99.5 million VND/tael. At the same time, Bao Tin Minh Chau raised the price of gold rings to 98.15 - 99.7 million VND/tael, the highest level in the market.

Gold bars increased at the beginning of the day with a similar amplitude and reached a new peak. SJC, PNJ, Bao Tin Minh Chau listed each tael at around 97.6 - 99.1 million VND/tael, an increase of 500,000 VND compared to yesterday. By 11am, each tael increased by 300,000 VND, bringing the selling price to 99.4 million VND/tael. Compared to the beginning of the year, the price of each tael of gold has increased by about 14 million VND, equivalent to 16%.

Gold prices in the international market have also continuously set new records, but domestic prices have increased at a faster rate. The gap between the two markets is widening to VND5 million/tael. Each ounce of spot gold at 10:00 (Hanoi time) is around USD3,034/ounce, converted according to Vietcombank's selling rate, equivalent to VND94.2 million/tael.

Currently, people who want to buy gold bars at SJC and state-owned banks must pre-order online. At some times in the early morning, SJC still sells gold bars to walk-in customers without requiring pre-orders.

At the same time, some brands not under the State Bank's trust such as Mi Hong, Bao Tin Minh Chau... have recently returned to selling gold bars.

According to a reporter in Hanoi this morning, these stores were crowded with customers coming to buy gold. Early in the morning, a line of people waiting to buy gold filled the sidewalk in front of Bao Tin Minh Chau's store on Cau Giay Street.

According to this unit's estimate, about 400 customers came to transact this morning.

At the Cau Giay facility, Bao Tin Minh Chau only sells a maximum of 1 tael of gold ring to each customer. At the two gold shops on Tran Nhan Tong Street, this business only allows each customer to buy a maximum of 0.5 tael. "From morning to noon, the Bao Tin Minh Chau store in Cau Giay alone recorded more than 400 customers coming to buy gold," said an employee there.

Similarly, Phu Quy brand this morning also limited each customer to buy 1-2 taels of gold rings, depending on the remaining stock at the facilities. This brand is selling gold rings at 99.6 million VND/tael, buying at 98 million VND/tael. Compared to the opening time, the selling price here has been adjusted to increase by half a million VND like Bao Tin Minh Chau.