HCMC – Domestic prices of plain 24K gold rings surged this morning, July 12, surpassing those of gold bars for the first time in years, according to local media reports.
On Friday morning, the Saigon Jewelry Company (SJC) in HCMC quoted its gold rings at VND75.1 million per tael for buying and VND76.7 million per tael for selling, up by nearly VND500,000 compared to yesterday’s close. A tael equals 37.5 grams or 1.2 troy ounces.
Doji, a jewelry firm in Hanoi, bought its gold rings at VND76.15 million per tael and sold them at VND77.4 million per tael. Bao Tin Minh Chau, also based in Hanoi, capped its gold ring buying and selling prices at VND75.88 million and VND77.18 million per tael, respectively.
Meanwhile, the selling price of SJC gold bars at State-run commercial banks remained unchanged at VND76.98 million per tael. Gold bar prices at SJC were listed at VND75.48 million per tael for buying and VND76.98 million per tael for selling.
As a result, the price of gold rings at Bao Tin Minh Chau was higher than the price of SJC gold bars at SJC and State-run commercial banks. This marks the first time that gold ring prices have exceeded SJC gold bar prices.
