Vietnamese Gold Prices Soar as Ring Prices Outpace Bars

Gold prices in Vietnam have risen significantly over the past week, with some gold rings selling for as high as 150.5 million VND/ounce. This is nearly 2 million VND/ounce higher than the price of gold bars. According to data from Simplize, the current price of SJC gold bars is 145.6 million VND/tael for buying and 148.6 million VND/tael for selling, with a difference between the two prices of 3 million VND/tael.

The price of gold rings varies depending on the brand, with Bao Tin Minh Chau and DOJI listing them at 146.5-150.5 million VND/ounce. This is significantly higher than the price of SJC gold bars, which are listed at 145.6-148.6 million VND/tael.

Associate Professor Ngo Tri Long warns that buyers need to be cautious when purchasing gold due to the volatility of the market and the risk of high prices. He advises people to clearly define their intentions for buying gold, whether it is for accumulation or short-term trading, and not to borrow money or invest all their savings in gold.