VINACHEM

SJC-branded gold prices set a new record high on Monday, reaching VNĐ86 million per tael.

The price of SJC-branded gold set a new record on Monday, reaching VNĐ86 million per tael (US$3,389), while gold ring prices declined slightly.

At 9am (local time), Saigon Jewellry Company Limited also reported an increase of VNĐ100,000 per tael, with SJC gold now trading at VNĐ83.8 million per tael for sellers and VNĐ86 million for buyers.

Vietnam Gold Company listed SJC gold prices at VNĐ83.8 million per tael for sellers and VNĐ86 million for buyers, a VNĐ200,000 per tael higher from the last trading session.

In contrast, DOJI quoted SJC gold at VNĐ83.8-VNĐ85.5 million per tael, down VNĐ200,000 per tael from Friday’s trade.

On Monday morning, Bảo Tín Minh Châu gold ring prices decreased by VNĐ50,000 per tael to VNĐ73.63 million for sellers and VNĐ75.23 million per tael for buyers.

In the global market, spot gold price is trading at VNĐ2,309.2 per ounce. (One ounce is equivalent to 0.76 tael.)

At the current prices, the domestic gold price is over VNĐ18.5 million higher than the international gold price.

Last Friday, the State Bank of Vietnam (SBV) postponed the fourth gold auction as only one bidder submitted a tender. This was the third time the monetary authority has taken such action. — VNS