Each tael of plain gold ring increased by more than half a million this morning, setting a new record of over 85 million VND.
On the morning of October 18, major gold trading brands simultaneously adjusted the buying and selling price of 24K plain gold rings to a new record level.
Saigon Jewelry Company (SJC) listed the buying and selling price of plain rings at 83.65 - 84.75 million, an increase of 750,000 VND for buying and 650,000 VND for selling compared to yesterday. DOJI Jewelry Group and Bao Tin Minh Chau also raised the price of plain rings by 650,000 VND to 84.1 - 85.1 million. Phu Nhuan Jewelry Company (PNJ) listed the price at 84 - 85 million VND.
Since the beginning of the week, each tael of gold rings has increased rapidly by 1.75 million VND, equivalent to 2%. Compared to the beginning of the year, each tael of plain rings has increased by nearly 22 million VND, recording a profit margin of nearly 35%.
Meanwhile, gold price This morning, the price of gold continued to move sideways because the State Bank has not changed the intervention price. Saigon Jewelry Company (SJC) kept the price at 84 - 86 million VND per tael.
In the international market, each ounce of gold officially set a new record, surpassing 2,700 USD. Currently, each ounce of gold is trading around 2,708 USD, converted according to Vietcombank's selling rate, equivalent to 82.9 million VND per tael. Accordingly, the domestic gold price is 2-3 million VND higher than the world price.
Since the beginning of the year, the international gold price has increased by nearly 30%. According to forecasts from the world's leading banks, the precious metal could reach $3,000 an ounce next year, equivalent to an increase of about 10-12%. Experts recommend that investors allocate a small proportion of their portfolio to this safe haven, especially in the context of the precious metal's strong increase in recent times.
Domestically, it is not easy for people to buy plain gold rings or gold bars. Plain rings at many major brands are often in short supply. Registering to buy gold bars at the 5 units authorized by the State Bank is also not easy, takes time, and the maximum quantity is only 1-2 taels.
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