Gold ring prices surge to reach new record high

Prices of gold rings at Doji Group were quoted at VND88.6 million and VND89.6 million per tael for buying and selling, representing a rise of VND600,000 per tael compared to the trading session from the previous day.

Furthermore, Phu Quy Gold Joint Stock Company bought and sold gold rings at VND88.4 million and VND89.6 million per tael, marking an increase of VND600,000 from the day before.

Bao Tin Minh Chau Company listed each tael of SJC gold rings at VND88.58 million and VND89.58 million per tael for buying and selling, respectively.

Meanwhile, Saigon Gold and Jewelry Company listed each tael of gold rings at the lowest price in the market with VND87.5 million for buying and VND89 million for selling.

Since the beginning of the year, the prices of gold rings have increased by more than VND26 million per tael, offering the most profitable channel for investors.

The four State-owned commercial banks, namely Agribank, BIDV, VietinBank and Vietcombank, all listed gold bars at VND90 million per tael, up VND1 million compared to the previous session.

Globally, gold prices edged higher on October 31 as they reached US$2,787 per ounce, up US$13 per ounce against the previous trading session.

Domestic gold prices are therefore predicted to continue rising moving forward amid a continued increase in global prices.