Unexpected domestic gold prices

(NLĐO) – While global gold prices surged dramatically, SJC gold bar prices reversed course and cooled down.

On the morning of June 14th, the price of SJC gold bars in the domestic market unexpectedly decreased slightly, contrary to the strong increase in world gold prices. Major businesses such as SJC, PNJ, DOJI , and Bao Tin Minh Chau simultaneously adjusted the price of gold bars to approximately 117.8 million VND/ounce (buying price) and 120.3 million VND/ounce (selling price), a decrease of 200,000 VND/ounce compared to yesterday.

This is quite unusual, as the price of SJC gold bars had been continuously rising for many days prior. This cooling down is even more noteworthy given that the world gold price continues its upward trend, which has also led to a sharp increase in the price of gold rings.

Specifically, the price of 99.99% pure gold rings and jewelry is currently listed at approximately 113.7 million VND/ounce (buying price) and 116.2 million VND/ounce (selling price), an increase of 200,000 VND/ounce compared to yesterday.

However, in the last few days, the price of gold rings has increased by a total of approximately 3.5 million VND per tael.

SJC gold bar prices bucked the global trend, falling again this morning.

On the international market, gold prices closed the trading week at a record high – well above the $3,400/ounce mark, reaching $3,433/ounce – the highest level in the past 5 weeks.

Gold prices surged as investors sought it as a safe haven amid concerns about escalating tensions between Israel and Iran. The US dollar index (DXY) remaining at a multi-week low also supported the further rise in gold prices.

Regarding SJC gold bar prices, some experts believe that as more gold bar brands enter the market, SJC gold prices will cool down to narrow the gap with world prices. Therefore, SJC gold prices are currently moving against the global trend.

Currently, the world gold price, converted according to the listed exchange rate, is approximately 108.5 million VND per tael.

Source: https://nld.com.vn/bat-ngo-gia-vang-trong-nuoc-196250614094923719.htm