HCMC – Domestic gold prices continued their upward trend this morning, August 5, with some jewelers raising their prices by VND500,000 per tael, pushing the rates close to the historic peak of VND124 million per tael.
As of 10:00 a.m., Saigon Jewelry Company (SJC) quoted its gold bar buying price at VND122.2 million per tael and the selling price at VND123.8 million, up VND500,000 on both sides compared to the previous day.
Other gold dealers such as DOJI and Bao Tin Minh Chau posted similar price levels. Meanwhile, Phu Quy Jewelry raised its buying price by VND700,000 and selling price by VND500,000 per tael, quoting them at VND121.2 million and VND123.8 million, respectively. The price gap between buying and selling currently ranges from VND1.6 million to VND2.6 million per tael.
With these adjustments, SJC gold prices are approaching the record high of VND124 million per tael, a level last seen on April 22 this year.
Gold ring prices also surged. At SJC, both buying and selling prices rose by VND500,000, reaching VND116.8 million and VND119.3 million per tael, respectively.
Phu Quy listed ring gold at VND116.7 million for buying and VND119.7 million for selling, while Bao Tin Minh Chau quoted prices at VND117.8 million and VND120.8 million per tael, both up VND600,000 per tael.
On the global market, gold extended its rally for a third consecutive session on August 4, according to the Vietnam News Agency (VNA).
As of 12:46 a.m. Vietnam time, spot gold rose 0.3% to US$3,372.15 per ounce, the highest level since July 24. Gold futures settled 0.8% higher at US$3,426.4 per ounce.
