Domestic gold rings hit record-breaking VND81.5 million per tael

Doji Group bought and sold gold rings at VND80.4 million and VND81.5 million per tael, marking an increase of VND500,000 compared to the previous trading session.

Saigon Gold and Jewelry Company rated each tael of SJC gold rings at VND79.8 million for buying and VND81.1 million for selling, up around VND300,000 per tael from the September 23 transactions.

Furthermore, prices of gold rings at Bao Tin Minh Chau Company were quoted at VND80.08 million and VND81.18 million per tael for buying and selling, rising by VND400,000 per tael from the trading session one day ago.

Meanwhile, the price of gold bars climbed to VND83.5 million per tael.

Saigon Gold and Jewelry Company listed each tael of SJC gold bar at VND81.5 million and VND83.5 million per tael, up VND1.5 million for buying and selling prices compared to the previous day.

This sudden rise is largely fueled by the robust increases in global gold prices. The price of gold on the world market was traded at US$2,627 per ounce on the gold exchange Kitco, up US$6 per ounce compared to the previous trading session.

Gold prices reached an all-time high after the US Federal Reserve moved to cut interest rates by 0.5%, thereby weakening the dollar, according to international experts.