Summary
- Ring gold opened sharply down from the 84 million VND mark and then narrowed its decline thanks to the recovery of world gold.
- However, compared to yesterday’s closing price, gold rings still “evaporated” up to a million VND/tael to a 1-month low.
- With a current price of no more than 84.1 million VND, gold rings at some businesses are on par with the price of gold bars.
Market developments
At the opening session on December 19, facing the negative outlook of world gold prices, domestic gold rings also dropped dramatically with an adjustment of more than 1 million VND/tael – simultaneously losing the mark of 84 million VND. However, after the world gold price rebounded above the 2,600 USD mark, gold rings at businesses also increased accordingly.
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