Bao Tin Minh Chau Company listed the buying and selling price of gold bars at VND83 million and VND85 million per tael, respectively, both up VND950,000 per tael compared to the closing session on April 11.

Phu Quy Group increased VND600,000 per tael in both buying and selling, trading at VND83 million and VND85 million per tael, respectively.

At Bao Tin Manh Hai Company, the price reduction for SJC gold hovered at around VND83 million to VND85 million per tael, rising by VND750,000 to VND850,000 per tael compared to the previous transaction.

During the April 12 trading session, the price of gold rings increased at a breakneck speed, topping all previous records to reach VND78.2 million per tael, an increase of more than VND800,000 per tael against the previous day.

Furthermore, Bao Tin Minh Chau Company bought and sold gold rings at VND76.28 million and VND78.18 million per tael, marking an increase of VND600,000 per tael over the previous session.

Elsewhere, Phu Quy Group’s gold rings also inched up by VND600,000 and VND800,000 per tael to reach VND76.4 million and 78.2 million per tael for buying and selling.

This sudden rise is largely being fueled by the robust increases in global gold prices. The price of gold on the world market was traded at US$2,383 per ounce on the gold exchange Kitco, up US$50 per ounce compared to the previous trading session.