Phú Quý Jewelry Corporation listed SJC gold bars at VND 136 – 138.6 million per tael, marking a significant increase.
Mi Hồng Gold System quoted SJC gold bars at VND 137.6 – 138.6 million per tael.
These figures represent a new record high for gold bars.
SJC gold bars reach an all-time high.
Gold rings also hit a new record after this surge. Specifically, Bảo Tín Minh Châu listed gold rings at VND 133.6 – 136.6 million per tael, an increase of VND 800,000 per tael.
Phú Nhuận Jewelry Company raised the price of gold rings by VND 500,000 per tael to VND 132.5 – 135.5 million per tael.
Meanwhile, global gold prices were listed at USD 3,886 per ounce, up USD 20 from the previous morning. This marks the seventh consecutive week of gains for the precious metal. The rise in global gold prices is primarily driven by investor concerns about the U.S. economy.
In the currency market, the State Bank of Vietnam set the central exchange rate at VND 25,162 per USD.
Bank USD rates cooled down. Vietcombank, the largest foreign exchange trader in the system, listed USD at VND 26,200 – 26,420 per USD for buying and selling, a decrease of VND 33 compared to the end of the previous week.
Compared to the peak of over VND 26,536 per USD in mid-August, the USD rate has dropped by more than VND 110.
Meanwhile, the USD rate on the black market surged by VND 80 over the week to VND 26,650 – 26,730 for buying and selling. This places the black market USD rate over VND 300 higher than bank rates.
The Golden Opportunity: Unveiling the Sudden Drop in Gold Ring Prices on October 28th
The 99.99 gold ring price took a sharp downward turn by the end of the day, while several companies drove the buying price of SJC gold bars to a record high.
Is it better to buy gold bars or gold rings for investment when you have extra money to spare?
Many people are unsure whether to buy gold bars or gold rings when it comes to investing in gold for storage purposes.
