HCMC – Gold ring and gold bar prices bounced back on the morning of May 16 after a sharp decline yesterday, with some outlets raising prices by as much as VND3 million per tael.
At around 9:30 a.m., Saigon Jewelry Company (SJC) increased its gold bar prices to VND118.5 million per tael for buying and VND120.8 million for selling, up VND3 million and VND2.6 million against yesterday’s close, respectively.
Other gold traders such as DOJI, PNJ, and Bao Tin Minh Chau also quoted similar buying and selling prices for gold bars, with a price spread of VND2.3 million per tael.
Meanwhile, Phu Quy Jewelry listed its gold bar prices at VND117.5 million per tael for buying and VND120.8 million for selling, up VND3 million and VND2.6 million, respectively. The buy-sell spread reached VND3.3 million per tael.
As for gold rings, Bao Tin Minh Chau raised its buying and selling prices by VND1 million per tael, listing them at VND114.5-117.5 million. PNJ and SJC both quoted ring prices at VND112.5-115.5 million per tael, up VND2 million on both sides.
In yesterday’s session, prices of gold rings and gold bars dropped sharply, with gold bar selling prices falling close to VND118 million per tael.
Globally, gold prices rose more than 1% in the May 15 trading session, according to the Vietnam News Agency.
As of 12:51 a.m. on May 16 (Vietnam time), spot gold was up 1.3% to US$3,218.89 per ounce, after hitting its lowest level in over a month earlier in the session.
