Vietnam’s gold ring price exceeds 85 mln dong per tael for 1st time

HANOI, Oct. 18 (Xinhua) — The gold ring price in Vietnam hit a new historic peak of over 85 million Vietnamese dong (3,364 U.S. dollars) per tael on Friday morning, local media reported.
Saigon Jewelry Company’s gold ring price shot up by 750,000 dong (29.7 dollars) on Friday morning to 83.65 million dong (3,310 dollars) for sellers and 84.75 million dong (3,355 dollars) for buyers per tael.
Jewelry firm DOJI’s gold ring price saw an increase of 650,000 dong (25.7 dollars) per tael to 84.1 million dong (3,329 dollars) for sellers and 85.1 million dong (3,368 dollars) for buyers per tael.
The gold ring price has risen sharply by 1.75 million dong (69.2 dollars) per tael, or 2 percent, since early this week.
It has increased nearly 35 percent since early this year, VnExpress reported.
Meanwhile, gold bar price remained stable on Friday at 84 million dong (3,324 dollars) to 86 million dong (3,403 dollars) per tael. (A tael equals 37.5 grams or 1.2 ounces). ■