On the morning of 27/7, Saigon Jewelry Company (SJC) listed gold bars at 139 - 143 million dong, marking an increase of 1,5 million dong per tael compared to last weekend. Other brands followed SJC's pricing. Mi Hong traded gold bars between 140,5 - 142,5 million dong per tael.

Plain gold rings also saw an increase of over one million dong per tael this morning. SJC bought and sold plain rings at 138,5 - 142,5 million dong per tael. Prices for 24K gold rings at Mi Hong were 140,5 - 142,5 million dong per tael, while Bao Tin Minh Chau listed them at 140,3 - 144,2 million dong.

Domestic gold prices rose in conjunction with trends in the international precious metals market. Spot gold gained 40-50 USD per ounce during the week's initial trading session.

As of 10h today, world gold prices hovered near 4,100 USD per ounce. The disparity between domestic and international gold prices has expanded from around 10 million dong last week to 12 million dong per tael (converted at Vietcombank's exchange rate, excluding taxes and fees).

The domestic silver market also experienced slight increases. Phu Quy and DOJI traded silver bars at 2,2 - 2,27 million dong per tael. Sacombank - SBJ listed silver bar prices at 2,19 - 2,26 million dong. When converted to kilograms, silver prices across brands were traded around 59 - 60 million dong per kg.

Last week, following news of SJC personnel involvement in a diamond smuggling ring, some citizens sold gold out of concern. This trend was short-lived. Many people, conversely, reported "taking advantage of the reasonable gap between domestic and international gold prices" to purchase more for long-term storage.

This morning, SJC implemented purchase limits, allowing each customer to buy a maximum of two chi of plain rings. For gold bars, SJC sells only when supply becomes available from customers, requiring buyers to wait. Payments to gold and diamond sellers are still processed by SJC on the same day.

Quynh Trang