Domestic gold rings hit record-breaking VND84 million per tael

Doji Group bought and sold gold rings at VND83.2 million and VND84.1 million per tael, marking increases of VND400,000 compared to the previous trading session.

Saigon Gold and Jewelry Company rated each tael of SJC gold rings at VND82.3 million for buying and VND83.7 million for selling, up by around VND500,000 per tael compared to transactions on October 15.

Furthermore, gold rings at Bao Tin Minh Chau Company were quoted at VND83.18 million and VND84.08 million per tael for buying and selling, rising by VND250,000 per tael from the trading session the previous day.

Meanwhile, at 9:30 a.m. on October 16, the price of gold bars inched up by around VND1 million to reach VND84 million and VND86 million per tael for buying and selling.

Saigon Gold and Jewelry Company listed each tael of SJC gold bar at VND84 million and VND86 million per tael, up VND1 million for buying and selling prices compared to the previous day.

Similarly, DOJI gold prices saw an increase of VND1.1 million per tael to reach VND84 million and VND86 million per tael for buying and selling.

This sudden rise is largely fueled by the robust increases in global gold prices. Gold in the world market was traded at US$2,667.2 per ounce on the gold exchange Kitco, up US$13 per ounce compared to the previous trading session.

Gold prices reached an all-time high after the US Federal Reserve moved to cut interest rates by 0.5%, thereby weakening the US dollar, according to international experts.