SJC gold bar price remains sky high amid sharp drop in world gold price

(NLDO) – World gold prices plummeted but SJC gold bar prices maintained a high level.

On the morning of July 29, the price of SJC gold bars remained stable for the second consecutive session when SJC, PNJ, and DOJI companies listed them at 119.5 million VND/tael for buying and 121.1 million VND/tael for selling.

Meanwhile, the price of 99.99% gold rings and jewelry gold slightly decreased to 114.4 million VND/tael for buying and 116.9 million VND/tael for selling, losing about 100,000 VND per tael.

Domestic gold prices continue to fall slowly compared to world prices, causing the gap between domestic and foreign gold prices to widen. Not only is the gap with the world , the price of SJC gold bars is also 4 million VND per tael higher than the price of gold rings.

SJC gold bar price maintains high level compared to world price

In the international market, the price of gold continues to decline and is currently trading at $3,319/ounce, down about $15/ounce compared to yesterday. The price of gold has been continuously decreasing in recent days, continuing the downward trend from last week.

The price difference of SJC gold bars today reached 105.5 million VND/tael

The appeal of precious metals on the international market is gradually decreasing as the USD increases sharply. The USD Index (DXY) unexpectedly increased to 98.6 points and the 10-year US bond yield is currently at 4.412%. The preference for risky investment channels with better returns on the global market also contributed to the decrease in the appeal of gold prices today.

Currently, the world gold price converted according to the listed exchange rate is about 105.5 million VND/tael, 15.5 million VND/tael lower than the price of SJC gold bars.

The gap between domestic and international gold prices is widening, in the context that the problem of gold bar supply has not been thoroughly resolved in recent times.

The market is still waiting for the new gold management policy and investors expect the price of SJC gold bars to decrease as the gap with world prices narrows.

Source: https://nld.com.vn/nguoc-dong-the-gioi-gia-vang-mieng-sjc-van-cao-chot-vot-196250729094351352.htm