By the end of June 15th, Saigon Jewelry Company (SJC) closed the buying price of SJC gold bars at 148 million VND/ounce and the selling price at 150.5 million VND/ounce, an increase of 3.5 million VND compared to the previous day. Mi Hong system announced slightly lower prices, around 148.5 - 150 million VND/ounce (buy - sell), while Bao Tin Minh Chau sold plain gold rings at the same price as SJC gold bars, at 150.5 million VND/ounce.
World gold prices at the end of the day reached approximately $4,337 per ounce, an increase of over $120, equivalent to about 3.8 million VND per tael, compared to the end of the week. World silver also saw an impressive surge, reaching $70.8 per ounce, an increase of approximately 4%.
Domestic silver prices have positively reflected this development. Sacombank Gold and Gemstone Company (SBJ) and many other entities listed silver bars at 2.67 million VND/ounce for buying and 2.75 million VND/ounce for selling, an increase of 130,000 VND/ounce. Silver by the kilogram also increased to 3.4 million VND/kg, reaching 71.2 million VND/kg for buying and 73.44 million VND/kg for selling.
However, current prices are still not enough to appease investors who poured money into the gold rush earlier this year. SJC gold and plain gold rings once traded at record highs of over 190 million VND per tael. At that time, many people were willing to queue up to buy with the mentality that "it's expensive today, but it will be even more expensive tomorrow." Even now, those who bought at the peak could still lose over 40 million VND per tael if forced to sell, not to mention the buy-sell spread which has already reached several million VND per tael. With silver, those who bought at high prices are also losing tens of millions of VND per kilogram, even though the metal has recovered quite strongly.
Experts at UOB Vietnam Bank believe that sideways movement and consolidation around the $4,300/ounce mark is a necessary foundation before gold enters its next upward price trend. In particular, the decrease in gold holdings on the COMEX exchange and the cooling of trading volume in benchmark gold ETFs signal that the market is in a cautious accumulation phase.
"The consolidation phase around the current level is considered crucial and necessary before long-term supporting factors, with gold acting as a safe-haven asset, return in the coming months. While maintaining a cautious short-term view, we continue to have a positive outlook on the long-term prospects of gold, reaching $4,600/ounce in Q3 2026 and a maximum of $5,200/ounce in Q2 2027," - UOB Vietnam experts predicted.
Source: https://nld.com.vn/gia-vang-bac-tang-manh-196260615210751686.htm
