The selling price of SJC-branded gold ring price was traded at 77.55 million VND per tael on August 3, down 100,000 VND per tael as compared to the previous day.
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.