With SJC gold prices soaring, should you buy or sell in the current climate?

(NLDO) – The price of SJC gold bars continues to maintain its historical peak, exceeding 125 million VND/ounce and being more than 18 million VND/ounce higher than the world price.

SJC gold bar prices have once again surpassed 125 million VND per tael.

On the morning of August 22nd, the price of SJC gold bars once again reached a record high, with businesses pushing it up to around 124.4 million VND/ounce for buying and 125.4 million VND/ounce for selling.

The spread between buying and selling prices has remained at 1 million VND/ounce, the same as at the beginning of the week, instead of fluctuating to 2-3 million VND/ounce as before.

Over the past month, the price of gold bars has increased by nearly 2 million VND per tael; since the beginning of the year, the increase has reached approximately 40 million VND, equivalent to 47%.

On the free market, SJC gold bars are trading at approximately 600,000 VND/ounce higher than major businesses, with buying prices around 125.4 million VND and selling prices around 126.2 million VND/ounce. However, compared to yesterday, the free market gold price has decreased slightly by about 100,000 VND/ounce.

SJC gold bar prices maintain historical peak.

The price of 99.99% pure gold rings and jewelry continues to rise, currently trading at 117.5 million VND/ounce for buying and 120 million VND/ounce for selling, an increase of 200,000 VND/ounce compared to yesterday. In just two days, gold rings have increased by a total of 600,000 VND/ounce. Since the beginning of the year, this type of gold has increased by approximately 35 million VND, equivalent to 41%.

SJC gold bar prices buck global trend.

Domestic developments contrast with international trends. At 9:00 AM (Vietnam time), precious metals traded on the international market at $3,337 per ounce, down $5 per ounce from the previous session. Converted at the current exchange rate, world gold is equivalent to approximately 107 million VND per tael, 13 million VND lower than gold rings and over 18 million VND lower than SJC gold bars.

The large gap between domestic and international gold prices is raising many concerns. Some experts warn that buying SJC gold bars at this time carries risks, especially if the State Bank of Vietnam intervenes to increase supply and narrow the price difference. Furthermore, the supply of SJC gold bars from major businesses is currently quite limited, while buying through the free market carries the risk of encountering counterfeit or fake gold.

Source: https://nld.com.vn/gia-vang-mieng-sjc-cao-chot-vot-nen-mua-hay-ban-196250822085918131.htm