The esteemed SJC-branded gold soared to unprecedented heights on Monday, marking a monumental milestone in the market. The price surged to VNĐ86 million per tael (equivalent to US$3,389), overshadowing previous records. Meanwhile, the prices of gold rings experienced a marginal decline.
By 9 a.m. local time, Saigon Jewellery Company Limited (SJC) reported a notable uptick of VNĐ100,000 per tael, positioning SJC gold at VNĐ83.8 million per tael for sellers and VNĐ86 million for buyers.
Vietnam Gold Company also witnessed a surge, listing SJC gold at VNĐ83.8 million per tael for sellers and VNĐ86 million for buyers, marking an increase of VNĐ200,000 per tael from the previous trading session.
In contrast, DOJI cited a slight dip in SJC gold prices, quoting them at VNĐ83.8-VNĐ85.5 million per tael, a decrease of VNĐ200,000 per tael from Friday’s trading.
Furthermore, Monday morning witnessed Bảo Tín Minh Châu gold ring prices experiencing a decline of VNĐ50,000 per tael, settling at VNĐ73.63 million for sellers and VNĐ75.23 million per tael for buyers.
In the global arena, the spot gold price was reported at VNĐ2,309.2 per ounce. (With one ounce equivalent to 0.76 tael.)
Notably, the current domestic gold prices have surpassed international rates by over VNĐ18.5 million.
The preceding Friday saw the State Bank of Vietnam (SBV) postponing the fourth gold auction due to minimal participation, with only one bidder submitting a tender. This marked the third instance where the monetary authority took such action.