On the morning of October 16th, the price of 9999 gold rings reached 153 million VND.

On the morning of October 16th, domestic gold prices continued to witness a sharp increase for both gold bars and gold rings.

Saigon Jewelry Company (SJC) listed the price of gold bars at 147.1 - 149.1 million VND/ounce for buying and selling, an increase of 1.1 million VND/ounce compared to yesterday.

The price of 99.99% pure gold rings and jewelry is increasing faster than the price of gold bars. At SJC, the price of gold rings has reached 145.9 - 148.1 million VND/ounce for buying and selling, an increase of up to 1.7 million VND/ounce compared to yesterday.

At PNJ Company, PNJ branded gold rings also surged to 146 - 149 million VND/ounce for buying and selling, an increase of 1.2 million VND/ounce in both buying and selling prices compared to yesterday.

In particular, at Bao Tin Minh Chau, the price of plain gold rings surged to 150-153 million VND/ounce for both buying and selling, an increase of 700,000 VND/ounce compared to yesterday.

Compared to a week ago, the price of BTMC plain gold rings has increased by 11.8 million VND/ounce for both buying and selling.

Global gold prices continued to surge, reaching new record highs as tensions between the US and China escalated. Many investors believe the US Federal Reserve (Fed) will maintain its loose monetary policy until the end of the year, further incentivizing capital flows into safe-haven assets like gold.

Since the beginning of the week, gold prices have risen by approximately 5% and peaked at over $4,231 per ounce on Thursday. This is the highest level since the rally began in mid-August.

At the beginning of October, the spot price of gold surpassed $4,000 per ounce for the first time, while silver also exceeded $50 per ounce – a level not seen in decades. By the middle of this week, the price of gold continued to climb above $4,200 per ounce, while silver reached approximately $51.2 per ounce.

Analysts believe that gold still has significant room for growth. Several factors, such as political instability, the risk of economic recession, and low interest rates, are reinforcing the sentiment of hoarding the precious metal.

A report from JPMorgan suggests that if just 0.5% of foreign investors' assets in the US were to shift to gold, the price could skyrocket to $6,000 per ounce.

In another report, commodity expert Widmer predicted that by 2026, the price of gold could average $4,400 per ounce and potentially peak at $5,000 per ounce.

Recent remarks by President Donald Trump have further heightened investor anxiety. He claimed the U.S. is in a "trade war" with China, raising concerns about its long-term impact on the global economy.

Despite Treasury Secretary Scott Bessent's suggestion to pause the tax increase, concerns about risk remain in the market. In this context, gold has become the leading safe-haven investment.