Opening early on October 12, gold shops simultaneously raised their buying and selling prices to several hundred thousand dong per tael.

At 10:30, SJC Jewelry Company listed the price of buying and selling gold bars at 69.4 - 70.1 million VND per tael, an increase of 300,000 - 400,000 VND compared to yesterday. The difference in selling price is 700,000 VND per tael.

Phu Nhuan Jewelry Company (PNJ) also listed gold bar prices at 69.4 - 70.1 million VND. DOJI Gold, Silver and Gemstone Group listed 69.2 - 70.1 million VND, the buying and selling difference widened to 900,000 VND per tael.

By 3:00 p.m., the price of gold bars at gold and silver stores continued to increase by about 200,000 VND compared to this morning. The price of gold bars purchased at SJC Jewelry Company increased to 69.65 - 70.35 million VND per tael. At DOJI Jewelry Group, gold bar prices pushed up to 69.45 - 70.35 million VND.

Compared to the record price set in March last year, the price of gold bars is currently 3-4 million VND per tael lower, with branded gold rings alone this morning reaching this peak level.

Accordingly, from the beginning of the week until now, the price of gold rings of types 1-5 at SJC and PNJ has increased by 350,000 VND per tael, to 56.5 - 57.5 million VND, the highest in 17 months.

On the international market, world gold prices trade around 1,876 USD per ounce, increasing about 15 USD per ounce in the past 24 hours. Converted according to Vietcombank exchange rate, the world gold price is equivalent to 55.6 million VND, nearly 2 million VND lower than gold rings and 14.5 million VND per tael compared to the price of domestic gold bars.

During the period from March to August, the domestic gold price remained flat despite fluctuations in the world and sometimes reached nearly 2,000 USD an ounce. However, in the last three months, gold bar prices have been on an upward trend and have increased by nearly 3 million VND per tael, equivalent to an increase of about 4.4%.

On the foreign exchange market, this morning the USD/VND exchange rate at banks fluctuated around 24,240 - 24,600 VND. The exchange rate on the free market turned down after yesterday's strong increase, down to 24,500 - 24,550 VND per USD

Quynh Trang