HCMC – Domestic gold bar prices rose by a sharp VND3 million to VND80 million per tael this morning, July 18, following one month and a half of going flat, according to local media reports.
Saigon Jewelry Company (SJC) in HCMC revised up its gold bar prices at 9 a.m. today to VND78.5 million per tael for buying and VND80 million per tael for selling. This marks a respective increase of VND2.5 million and VND3 million, compared to yesterday’s closing prices.
State-run commercial banks also adjusted their gold bar selling prices to VND80 million per tael. One tael equals 37.5 grams or 1.2 troy ounces.
Experts had earlier predicted the upsurge in SJC gold bar prices, attributing it to the rapid increase in global gold prices in recent days.
Global gold was trading at around US$2,465 per ounce this morning. The price difference between Vietnamese and global gold prices today is approximately VND4.4 million per tael.
Similarly, gold rings edged up today. The plain 24K gold ring at SJC rose by over VND600,000 to VND77.5 million per tael for selling, with a buying price capped at VND76.1 million per tael. The gap between buying and selling prices for gold rings widened from VND900,000 to VND1.5 million compared to yesterday.
Doji in Hanoi listed its gold ring prices at VND76.45 million per tael for buying and VND77.65 million per tael for selling, while prices at Bao Tin Minh Chau were VND76.58 million per tael for buying and VND77.58 million per tael for selling.
