Gold price today May 20: SJC gold bars are 17.5 million VND/tael more expensive than the world

Phu Quy Company reduced the price of SJC gold bars by 300,000 VND per tael, buying at 116 million VND, selling at 119 million VND. Saigon Jewelry Company - SJC kept the buying price of gold bars unchanged at 116.8 million VND, selling at 119.3 million VND... The price of gold rings also decreased by 300,000 VND per tael. Phu Quy Company bought at 111.5 million VND, selling at 114.5 million VND. SJC Company bought at 111.5 million VND, selling at 114.6 million VND... The difference between buying and selling prices of gold remained at 2.5 - 3 million VND/tael. The price of SJC gold bars was 17.5 million VND/tael higher than the world price , while gold rings were 13 million VND/tael more expensive.

SJC gold bar price is 17.5 million VND/tael higher than world price

World gold prices fell slightly by $4 to $3,227 an ounce. Demand for gold increased after Moody's downgraded the US's long-term credit rating from Aaa to Aa1 last week, citing persistently rising federal debt and chronic fiscal deficits . The world's largest gold investment fund, SPDR Gold Trust, bought 2.3 tonnes, bringing its gold holdings to 921.03 tonnes. This was the fund's first purchase after a week of sell-offs.

Costco Wholesale Corporation (an American multinational corporation that operates a chain of membership-only retail stores) has introduced a new limit on the amount of gold that members can purchase of "a limit of 1 transaction per member, with a maximum of 2 units in 24 hours".

Earlier this year, Costco members could buy five gold bars in 24 hours, and when the retailer starts selling gold bars in 2023, members can buy two. Costco has sold more than $100 million in gold bars since it began selling them two years ago. During that time, spot gold prices have skyrocketed, nearly doubling from about $1,810 an ounce in February 2023 to an all-time high of nearly $3,500 last month./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-2052025-vang-mieng-sjc-dat-hon-the-gioi-175-trieu-dong-luong-185250520084904219.htm

Source: https://baolongan.vn/gia-vang-hom-nay-20-5-vang-mieng-sjc-dat-hon-the-gioi-17-5-trieu-dong-luong-a195595.html