HCMC – Domestic gold bar prices have risen by VND1.5 million to VND82 million per tael, as global prices rose for the third consecutive session, according to local media reports.
Today (September 17), major jewelry firms adjusted up the prices of SJC-brand gold bars to VND80 million per tael for buying and VND82 million for selling, following 12 consecutive sessions of no change. A tael is equal to 1.2 troy ounces.
This is the highest price since the State Bank of Vietnam revised its market stabilization strategy in early June, switching from gold auctions to direct sales to four state-run banks and Saigon Jewelry Company (SJC). The selling price from regulatory authorities to business entities currently stands at VND81 million per tael.
Gold ring prices have also reached record highs. At SJC, prices range from VND77.9 million to VND79.2 million per tael, an increase of VND16.25 million compared to the beginning of the year.
