SJC gold bar price may drop to 100 million VND/tael?

On the morning of April 15, the price of SJC gold bars was listed by SJC, PNJ, and DOJI at 117.4 million VND/tael for buying and 119.4 million VND/tael for selling, down 600,000 VND/tael compared to the end of yesterday.

The price of 99.99 gold rings and jewelry gold remains stable at VND112 million/tael for buying and VND115 million/tael for selling. However, the price of gold rings is about VND4.5 million/tael lower than that of SJC gold bars.

Compared to the historical peak, domestic gold price has decreased by about 5 million VND/tael.

However, domestic gold prices only decreased slightly compared to the decline in world gold prices.

On the international market, the spot gold price at 9:00 a.m. this morning, Vietnam time, was trading at 3,186 USD/ounce, down about 50 USD compared to the previous session.

If calculated from the record peak of 3,500 USD/ounce, the current gold price has "evaporated" about 310 USD/ounce (nearly 10 million VND/tael). This is a very sharp decrease in the world gold price in the past 3 weeks.

SJC gold bar price is 19 million VND/tael higher than world price

With the continuous decline in recent days, the current world gold price converted according to the listed exchange rate is only 100.3 million VND/tael, nearly 15 million VND/tael lower than gold rings and about 19 million VND/tael lower than SJC gold bars.

Many people said they are waiting for domestic gold prices to fall following world prices, especially when the difference between the prices of SJC gold bars and gold rings compared to world prices has widened to a record level.

Financial expert Phan Dung Khanh believes that the price of SJC gold bars will decrease following the world gold price, but this is unlikely to happen in the short term. The gap between domestic and world gold prices is currently very high and unreasonable. However, policies from the State Bank and the Government are gradually showing effectiveness.

"Narrowing this gap will take time and cannot be done overnight. The goal of the policy is to bring domestic gold prices closer to world prices, not to reduce domestic gold prices to the same level as world prices," said Mr. Phan Dung Khanh.

The latest information related to gold market management is in Official Dispatch No. 64 dated May 13 on implementing measures to effectively manage the gold market. The Prime Minister requested the State Bank to closely monitor the developments in world and domestic gold prices, and promptly implement solutions according to regulations when necessary to stabilize the gold market.

In particular, not to have negative impacts on exchange rates, interest rates, money markets, foreign exchange, and national financial and monetary security and safety.

SJC gold bar price drops slightly compared to world price. Source: SJC

Source: https://nld.com.vn/gia-vang-mieng-sjc-co-the-giam-ve-100-trieu-dong-luong-196250515085921088.htm