On 26/8, Saigon Jewelry Company (SJC) listed gold bar prices at 126.1 - 127.7 million VND per tael, an increase of 500,000 VND for buying and 600,000 VND for selling compared to yesterday. Other brands also raised gold bar prices accordingly.

Plain gold rings also reached their highest price ever this morning. SJC raised the buying and selling price of plain gold rings to 119.6 - 122.1 million VND per tael. Phu Nhuan Jewelry Company (PNJ) listed plain gold ring prices at 119.6 - 122.6 million VND. At Bao Tin Minh Chau, plain gold rings reached 119.6 - 122.6 million VND.

Domestic gold prices have increased more rapidly than global prices, widening the gap between the two markets. In the past 24 hours, the spot gold price increased by 30 USD at one point and is currently trading around 3,369 USD per ounce. Converted at Vietcombank's selling exchange rate, the world gold price is equivalent to 107.5 million VND per tael. Accordingly, each tael of domestic gold bar is currently 20 million VND higher than the world price, while the difference for gold rings fluctuates around 15 million VND.

According to industry experts, the recent rise in domestic gold prices is mainly due to low selling pressure while demand remains. Compared to the beginning of this year, each tael of gold bar is now nearly 43 million VND more expensive, equivalent to a 50% increase. Meanwhile, the increase for plain gold rings is over 43%.

Domestic silver prices are currently also anchored around the peak, having increased by more than 2.5% in the past week. Phu Quy Gold Investment Joint Stock Company listed silver bar prices at 1.48 - 1.53 million VND per tael. Silver bar prices at Ancarat Precious Metals Joint Stock Company are around 1.47 - 1.5 million VND.

Quynh Trang