On the afternoon of October 21st, the price of gold rings reached a new high of 160 million VND.

As of 2 PM on October 17th, major gold companies simultaneously listed the price of SJC gold bars at 153.6 million VND/ounce for buying and 154.6 million VND/ounce for selling, an increase of 3.1 million VND/ounce in both buying and selling prices compared to yesterday.

Following the upward trend, 99.99% pure gold rings and jewelry also traded at 151.1 million VND/ounce for buying and 153.3 million VND/ounce for selling, an increase of 3.1 million VND/ounce compared to yesterday morning.

The price of gold rings varies between companies: SJC sells them for 153.3 million VND; PNJ sells them for 154.5 million VND/ounce, the same as the price of 9999 Hung Thinh Vuong Doji round gold rings.

Slightly higher, the selling price of gold rings in blister packaging from Kim Gia Bao is 158 million VND/ounce, an increase of 2 million VND compared to yesterday.

Meanwhile, plain gold rings from Bao Tin Minh Chau are selling for up to 160.5 million VND/ounce, which is 5.9 million VND/ounce higher than the price of SJC gold bars.

Some small shops this morning pushed the selling price of SJC gold bars up to 170 million VND/ounce. The price of BTMC gold rings advertised on social media platforms has also reached 175 million VND/ounce.

Experts advise people against buying gold through these channels because the origin of the gold is unclear. Buyers risk purchasing counterfeit or low-quality gold, or being scammed when dealing with cash.

Domestic gold prices have risen sharply due to the influence of global prices. At 2 PM Vietnam time today, world gold prices reached $4341.79 per ounce, a sharp increase of $75.55 per ounce compared to yesterday. With this surge in just half a day, many investors predict that gold will soon return to the $4400 per ounce mark.

Currently, the world gold price, converted using the listed exchange rate, is approximately 137.9 million VND per tael.