As adjusted on November morning, the price of 9999 gold rings increased to VND86 million (US$3,381) per tael while SJC branded gold surged over the benchmark.
Vietnam’s gold ring prices suddenly increased on November 16 morning after a falling streak to a two-month record low, while gold bar prices remained steady.
Vietnamese consumers are facing trouble purchasing gold, including supply shortages, government regulations, and the rise of informal gold trading networks, despite recent efforts by the State Bank of Vietnam to stabilize the market.
The price of gold rings Vietnam rose by VND550,000 on October 18 morning to reach a record high of VND85 million per tael, fueled by rising global prices, according to local media reports.
The price of gold rings in Vietnam rose by VND300,000 on October 12 to reach VND82.9 million per tael, driven by rising global prices, according to local media reports.
Prices of domestic gold rings continued their upward trajectory on September 27, reaching an all-time high of VND83.35 million per tael and being equal to the selling price of SJC gold bars for the first time.
The price of gold rings in Vietnam rose by VND1 million on September 25 morning to reach a record high of VND82.5 million per tael, driven by rising global prices, according to local media reports.
