HANOI (XINHUA) – The price of gold ring in Vietnam reached a new record high of VND89.3 per tael yesterday, surpassing the gold bar price for the first time, local media reported.
DOJI gold and jewelry corporation listed each tael of its gold ring at about VND88.3 million dong (USD3,485) for sellers and VND89.3 million for buyers.
Meanwhile, the gold bar was sold at VND87 million per tael for sellers and VND89 million per tael for buyers.
A tael equals 37.5 grammes or 1.2 ounces.
The move came given the fact that the State Bank of Vietnam sells gold bars at a fixed price to four State-owned banks and Saigon Jewelry Company for distribution to the public.
The gold ring price in Vietnam, in contrast, fluctuates following the global prices.
