Major enterprises listed SJC gold bars at VND94.8-97.7 million per tael (for buying and selling), reflecting a VND4 million decrease in the buying price and a VND2.7 million drop in the selling price compared to the morning session.

Similarly, plain gold rings at SJC were listed at VND95.8-98.3 million per tael, decreasing VND2 million in the buying price and VND1.53 million in the selling price.

At some private gold brands, gold ring prices also dropped significantly, moving further away from the VND100 million mark. Most gold retailers set their selling prices around VND99 million per tael.

As of March 21 morning (Vietnam time), global gold prices fell 0.52% to US$3,030.5 per ounce. Analysts noted that the gold price is pulling back after its recent rally, as investors are taking profits.

Many gold traders say that demand for gold remains high, while limited supply continues to push prices up. This has also widened the gap between the buying and selling prices compared to previous periods.

Experts believe that in the long term, gold prices are still in an upward trend and will continue setting new all-time highs.

However, they warn investors to be cautious. After a strong rally in the first three months of the year, the market could enter an accumulation phase, both for domestic and international gold. Global gold prices may stabilize as central banks clarify their interest rate cut cycles in 2025 and geopolitical uncertainties that previously pushed gold prices higher stop escalating.

In the domestic market, the fact that gold rings have officially surpassed VND100 million per tael and gold bars are hovering near this level is seen as an unbelievable price milestone for many investors. However, this price surge was anticipated, as the market has closely followed the rapid global gold rally.

According to experts, short-term traders could take partial profits, but long-term investors should continue holding as the potential for high returns is stronger than ever.

Gold ring prices edge up to record VND100 million per tael

VOV.VN - Domestic gold ring prices surged in line with global trends, breaking previous records to reach VND100 million per tael as of 11 a.m. on March 19.