Bao Tin Minh Chau, one of the major gem stone companies in Vietnam, raised the price of gold rings by VND300,000, bringing the buying price to VND91.9 million/tael and the selling price to VND93.1 million/tael.

Meanwhile, Doji, another gem stone company, increased the price of each gold ring by VND600,000 at the start of the day to a high of VND93.3 million/tael, but continuously adjusted down by VND400,000, bringing the buying price to VND91.6 million/tael, and the selling price to VND92.9 million/tael.

After reaching the VND93 million/tael mark, Phu Quy Jewelry also adjusted the price down by VND100,000, listing the buying price at VND91.5 million/tael and the selling price at VND92.9 million/tael.

The price of gold rings is currently higher than that of SJC gold bars by VND200,000 - 400,000/tael.

Gold trading companies such as SJC, Doji, and Bao Tin Minh Chau are buying gold at VND90.7 million/tael and selling it at VND92.7 million/tael. The price of gold bars is now VND2.5 million higher than the global price.

On the global gold market, the spot gold price in the US closed March 4 session with a gain of US$24.9, reaching US$2,917.9/ounce. However, during the Asian trading session on March 5 morning, the price reversed and dropped by US$11.7, settling at US$2,906.2/ounce.

The gold futures contract for April 2025 on the Comex New York exchange increased by 0.67%, hitting US$2,920.6/ounce.

Gold prices continued to show strong gains, supported by an increase in buying pressure and a decline in the US dollar index.

Notably, the US’ decision to impose trade tariffs on Mexico, Canada, and China as of March 4, would prompt retaliation from the targeted countries, that adds further uncertainty to global economic conditions, said experts.

Gold ring price climbs to new historic peak

VOV.VN - Domestic gold prices continued to experience a sharp increase on February 19, with gold ring prices reaching their highest historic peak at VND92 million per tael.