HCMC – Gold prices in Vietnam surged to new highs this morning, March 5, with gold rings reaching VND93 million per tael at some jewelry firms, according to local media reports.
At around 11 a.m., Bao Tin Minh Chau increased the buying and selling prices of gold rings by VND300,000 per tael, taking new rates to VND91.9 million per tael for buying and VND93.1 million per tael for selling, the highest recorded price for gold rings in Vietnam.
Phu Quy Jewelry also adjusted its prices, quoting gold rings at VND91.6 million per tael for buying and VND93 million per tael for selling, up by VND300,000 per tael compared to yesterday.
PNJ priced gold rings at VND91.7 million per tael for buying and VND92.9 million per tael for selling, reflecting a VND200,000 rise in both directions from the previous day.
Currently, gold rings are priced VND200,000-400,000 per tael higher than SJC gold bars in selling prices. Leading gold trading firms such as SJC, DOJI, and PNJ are quoting gold bars at VND90.7 million per tael for buying and VND92.7 million per tael for selling.
On the global market, gold prices continued to rise. According to the Vietnam News Agency, at 2:16 a.m. on March 5 (Vietnam time), gold increased by 0.6% to US$2,911.88 per ounce. Since the beginning of the year, gold prices have surged nearly 11%, hitting a record US$2,956.15 per ounce during the February 24 session.
