Gold ring price is approaching gold bar price, gold transaction volume in Hai Duong is very low

At 4:00 p.m. on July 8, the price of SJC gold bars at PNJ and Doji was 74.98 million VND/tael for buying and 76.98 million VND/tael for selling. At Bao Tin Manh Hai, the transaction price was 76 million VND/tael for buying and 76.98 million VND/tael for selling. These prices remained unchanged compared to the trading session at the end of last week.

The gold bar selling price of 76.98 million VND/tael mentioned above is equal to the selling price of 4 banks (Agribank, VietinBank, Vietcombank, BIDV). This is the price that has been maintained for nearly a month now.

For round gold rings, the transaction price at 4 p.m. on July 8 was around VND74.1-75.15 million/tael for buying, VND75.3-76.5 million/tael for selling, down an average of VND150,000/tael for buying, down VND100,000/tael for selling compared to the morning of the same day. Compared to gold bars, the selling price of round gold rings was only about VND1 million/tael lower on average. Notably, the Hung Thinh Vuong 9999 round ring product was bought by Doji at VND75.15 million/tael, higher than the price of SJC gold bars that this brand bought at the same time (VND74.98 million/tael).

According to some economic experts, recently buying SJC gold bars has been relatively difficult, even when the State Bank organized gold auctions, then sold gold through 4 large state-owned banks. People could not buy gold bars, so they switched their demand to gold rings. This is also the opinion of the managers of some gold shops in Hai Duong. In fact, these shops have almost no gold bars to trade. This is considered the main reason for the increase in gold ring prices in recent days.

Gold transaction volume in Hai Duong is very low. From early morning of July 8 to 4 pm of the same day, there were no transactions at the above gold shops.