Domestic gold prices remain stable against global upward trend

Throughout the last week, the price of the precious metal steadied, resulting in subdued trading.

Specifically, both DOJI Gold & Gems Group and Saigon Jewelry Company (SJC) list the buying and selling prices at VND74.98 million (over US$2,951) and VND76.98 million per tael, the same with those offered at the beginning of the week. A tael equals 37.5 grams or 1.2 ounces.

Experts said efforts by the State Bank of Vietnam (SBV) and related agencies in gold price control have proven effective, helping ease negative impacts by the global market.

Truong Vi Tuan, an expert from Giavang.net, said although the price of SJC gold bars has remained flat for 30 consecutive days, that of gold ring has seen fluctuations.

DOJI Gold lists the buying and selling prices of Hung Thinh Vuong gold ring at VND75.65 and 76.95 million per tael, an increase of VND600,000 per tael in both buying and selling prices.

Meanwhile, gold ring is priced at VND74.6-76.2 million, and VND75.38-76.68 million by SJC and Bao Tin Minh Chau, respectively, up VND200,000 and VND300,000 per tael in buying and selling prices.

Gold ring price is predicted to continue rising in the time to come in the context of increasing global gold prices.