HCMC - SJC-branded gold bars continued to surge to fresh record highs, following the upward trend of global prices.

On the morning of October 4, Saigon Jewelry Company (SJC) raised its gold bar prices by VND800,000 per tael, quoting its buying price at VND136.6 million and selling price at VND138.6 million. These were new all-time highs. Similarly, gold ring prices were adjusted up by VND800,000 to VND132.3 million for buying and VND135 million for selling. Phu Nhuan Jewelry (PNJ) also increased its prices by VND500,000, bringing its buying price to VND132.5 million and selling price to VND135.5 million. The buy-sell spread for gold bars remained at VND2 million per tael, while gold rings recorded a wider gap of VND3 million. On the global market, gold prices jumped to US$3,885 per ounce, up US$32 against yesterday and gaining over 3% this week. Analysts said the U.S. government shutdown, now in its third day, could continue to support gold prices if prolonged. Still, a possible deal this weekend to resume government operations might weigh on prices.