HCMC – Domestic gold prices rebounded on the morning of June 2, with gold rings increasing by up to VND1 million per tael.
Saigon Jewelry Company (SJC) revised up its buying price for gold rings by VND700,000 per tael and its selling price by VND200,000, quoting them at VND111.2 million and VND113.7 million per tael, respectively.
Phu Quy Jewelry adjusted its gold ring prices by VND300,000 per tael, listing them at VND110.8 million for buying and VND113.8 million for selling.
Bao Tin Minh Chau also increased their gold ring prices by VND300,000 per tael to VND113 million for buying and VND116 million for selling, the highest prices on the market.
In HCMC, Mi Hong jewelry company hiked its gold ring prices by VND500,000 per tael to VND111.5 million for buying and VND113.5 million for selling.
Phu Nhuan Jewelry JSC (PNJ) kept its gold ring prices unchanged at VND110.5 million for buying and VND113.6 million for selling.
Gold ring prices have been fluctuating in line with SJC gold bar prices and are currently trading at their lowest levels in the past month.
SJC gold bars increased by VND300,000 per tael from the previous weekend to VND116 million for buying and VND118.5 million for selling. Despite the uptick, this remains the lowest price range for SJC gold bars over the last month.
The domestic gold price rally this morning was attributed to the rise of global gold prices. In ongoing trading, the spot gold price has climbed past the resistance level of US$3,300 per ounce, currently standing at US$3,308, up by US$20 against yesterday’s close.
The global gold price is approximately VND104.6 million per tael, around VND14 million lower than SJC gold bars and VND11 million lower than domestic gold rings.
