Saigon Jewelry Company gold bar price increased by 300,000 VND to VND87.3 million per tael on January 17. Gold rings also went up to VND86.7 million per tael.
Global gold prices fell sharply on May 23, trading at 4,506.9 USD per ounce, as rising energy prices put pressure on global inflation, thereby strengthening the possibility that the Fed will keep interest rates high. In the domestic market, SJC gold bars and rings continued to decline, quoted at 161.5 million VND per tael and 161 million VND per tael, respectively.