Plain gold ring price up to nearly 101 million VND per tael

After a slight decrease of several hundred thousand dong late yesterday afternoon, major domestic brands this morning, March 20, continued to raise the price of gold rings and gold bars to new peaks.

Saigon Jewelry Company (SJC) this morning increased the buying and selling price of plain rings to 98.4 - 100.3 million VND, an increase of 500,000 VND for buying and 900,000 VND for selling compared to yesterday. PNJ also increased the price of plain rings to 98.6 - 100.4 million VND per tael. At Bao Tin Minh Chau, gold rings this morning increased to 99.25 - 100.9 million VND per tael.

With gold bars, SJC raised to a new peak of 98.6 - 100.4 million VND per tael, 600,000 VND higher for buying and 900,000 VND higher for selling compared to the end of yesterday. The price list of gold bars at other brands is currently equivalent to SJC.

Domestic gold prices continue to have trading sessions higher than the world price. The gap between the two markets has now widened to nearly 6 million VND per tael, while a month ago it was only less than 3 million VND per tael.

In the international market, the precious metal continued its upward trend, setting a record of more than 3,050 USD per ounce. Converted according to Vietcombank's selling rate, the world gold price is currently equivalent to 94.6 million VND per tael.

Transactions on the domestic market have become more active in recent days. As the price of gold has continuously reached new peaks, many people have bought gold bars or plain rings to increase their savings with this investment channel. Some people have also taken advantage of the opportunity to take profits, but the majority of transactions are for buying. Currently, major brands are selling limited quantities of gold bars (about 1-2 taels) and plain rings (from half a tael to 2 taels) depending on the time.