The price of SJC gold rings rose 0.26% to 77.5 million VND per tael, while gold bar price remained steady at a three-month low of VND78.5 million per tael on August 9.
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.