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 to 3,874.4 USD per ounce on October 31 amid escalating tensions in the Strait of Hormuz, which pushed oil prices higher. In Viet Nam, SJC-branded gold bar and gold ring prices declined sharply in line with the downward trend in the global market, falling to 139 million VND and 135.8 million VND per tael, respectively.