Record gold ring price, huge profit of 10.8 million/tael after half a year

Half a year ago (April 5, 2024), the price of plain round gold rings was listed by Bao Tin Minh Chau at 70.68 - 71.88 million VND/tael for buying and selling; the difference between buying and selling was at 500,000 VND/tael.

Phu Nhuan Jewelry (PNJ) listed PNJ 9999 plain gold rings at 70.85 - 72.05 million VND/tael (buy - sell); the difference between buy and sell is 1.2 million VND/tael.

As of early this morning (October 5, 2024), the price of 9999 round gold rings was listed by Bao Tin Minh Chau at 82.68-83.58 million VND/tael (buy - sell); the difference between buying and selling was at 900,000 VND/tael.

Meanwhile, Phu Nhuan Jewelry (PNJ) also adjusted the price of PNJ 9999 plain gold rings to VND82.8-83.6 million/tael (buy - sell). The difference between buying and selling at PNJ is VND800,000/tael.

Thus, after half a year, the profit when investors buy plain gold rings at Bao Tin Minh Chau and PNJ is 10.8 million VND/tael and 10.75 million VND/tael respectively.

Recently, the domestic price of plain round gold rings has often adjusted in line with the world market. In the past half year, the world gold price has also increased to more than 377 USD/ounce.

If on April 5, 2024, the world gold price listed on Kitco was at 2,272.7 USD/ounce, at the time of writing (1:00 a.m. on October 5, 2024 - Vietnam time), the world gold price increased to 2,649.8 USD/ounce.