Domestic gold ring prices today (June 22) suddenly dropped quickly after a week of acceleration. Each amount of gold decreased by nearly half a million dong overnight. However, overall for the past week, gold ring prices of all brands increased.
After a strong week, gold ring price This morning, domestic prices turned down sharply due to the impact of world gold prices. The price of gold rings of many brands has lost the mark of 76 million VND/tael.
Saigon Jewelry Company (SJC) today sharply reduced the price of gold rings. This morning, SJC listed the price of gold rings of types 1-5 only in Ho Chi Minh City at 73.75-75.35 million VND/tael (buy – sell), down 450 thousand VND per tael in both buying and selling compared to with the closing session yesterday.
Similarly, the price of gold rings at Phu Nhuan Jewelry Joint Stock Company (PNJ) was also adjusted to decrease rapidly. Gold rings at PNJ this morning were traded at a price of 73.95-75.65 million VND/tael (buy – sell). Compared to yesterday’s session, the price of gold rings at PNJ has decreased by 350 thousand VND/tael in both directions.
Bao Tin Minh Chau Company late this morning also lowered the price of Thang Long dragon gold plain round gold rings to 74.68-75.98 million VND/tael (buy – sell), down 300 thousand VND/tael in both buying and selling direction compared to yesterday’s closing level.
Gold ring prices cool down. Photo: Chi Hieu
The price of 9999 plain round gold ring at Doji Jewelry Group this morning also decreased by 400,000 VND/tael on the buying side and 250,000 VND/tael on the selling side compared to yesterday’s closing level, buying – selling in the price range. 74.7-76.05 million VND/tael.
The difference between the buying and selling prices of gold rings of brands currently fluctuates between 1.3-1.7 million VND per tael.
Although it dropped quickly during the weekend trading session, overall in the past week, domestic gold ring prices achieved a fairly strong increase.
Compared to last week’s closing level, gold ring prices of all brands increased. Specifically, this week, the price of gold rings at SJC increased by 400 thousand VND/tael in both buying and selling directions. Gold ring price at PNJ increased by 550 thousand VND/tael in both directions. The price of Thang Long dragon gold plain round gold ring increased by 500 thousand VND/tael in both buying and selling directions. Last week, Doji increased the price of 9999 plain round gold ring by 450,000 VND/tael on the buying side and 550,000 VND/tael on the selling side.
Meanwhile, gold bar price SJC remained unmoved for days. Large gold businesses such as SJC, Doji, and PNJ all listed SJC gold bar prices at 74.98-76.98 million VND/tael (buy – sell) on the morning of June 22. This is the 12th consecutive session that SJC gold bars have been kept at the same price by businesses.
Above world market, the price of gold at the weekend session plummeted, down to 40 USD/ounce, due to the strengthening of the USD and the increase in US government bond yields. Closing the week, the world spot gold price returned to 2,320 USD.
World gold converted at the current exchange rate at Vietcombank is 71.23 million VND/tael (excluding taxes and fees).
Compared to world gold prices, currently each tael of SJC gold bars is 5.75 million VND/tael more expensive than the world’s. The price of SJC gold rings is 4.12 million VND/tael higher.