Local gold ring prices surge to reach new record high

Doji Group bought and sold gold rings at VND82.9 million and VND83.6 million per tael, marking an increase of VND300,000 and VND350,000 per tael, respectively, compared to the previous trading session.

Elsewhere, Saigon Gold and Jewelry Company rated each tael of SJC gold rings at VND81.9 million for buying and VND83.2 million for selling, up VND300,000 per tael from the transactions on October 3.

Furthermore, prices of gold rings at Bao Tin Minh Chau Company were quoted at VND82.68 million and VND83.58 million per tael for buying and selling, representing rises of VND200,000 and VND100,000 per tael compared to the trading session on the previous day.

Meanwhile, the price of gold bars remained stable, despite the rising global gold price recorded over the past couple of days.

Specifically, both Doji Group and Saigon Gold and Jewelry Company listed each tael of SJC gold bar at VND82 million and VND84 million per tael, the same as those offered at the beginning of the week.

Globally, gold prices edged higher on October 4, duly reaching a new peak of US$2,659.99 per ounce, up US$4.26 per ounce compared to the previous trading session.

Gold prices were largely impacted by major factors such as the escalation of ongoing tensions in the Middle East and the interest rate cut by the US Federal Reserve, according to international experts.

Domestic gold prices are therefore predicted to continue rising moving forward amid increasing global gold prices.