SJC gold bar price hits a surprising peak on the free market

(NLDO) – For the first time, the price of SJC gold bars exceeded 125 million VND/tael on the free market, despite the world price continuously falling.

On the morning of August 16, the price of SJC gold bars was kept unchanged by gold companies at 123.5 million VND/tael for buying and 124.5 million VND/tael for selling, stable compared to yesterday.

Gold bar prices at major gold companies have remained unchanged over the past two days, after leaving the peak of VND124.7 million/tael.

However, a notable development in the free market was when some gold shops listed the price of SJC gold bars at 124.2 million VND/tael for buying and 125.2 million VND/tael for selling, up to 800,000 VND higher than at large enterprises.

SJC gold bar price maintains high level in recent days

This is also a record high for domestic gold prices, and for the first time exceeded the 125 million VND/tael mark.

Meanwhile, the price of 99.99% gold rings and jewelry gold also stabilized around VND116.6 million/tael for buying and VND119.1 million/tael for selling.

The price difference between SJC gold and the world is huge.

Domestic gold prices remain at a sky-high level, explained by companies due to scarce supply and high demand for gold purchases and holdings. The market has few sellers and many buyers in a context of shrinking scale, keeping gold prices high.

In the international market, the price of gold closed the trading week at 3,337 USD/ounce, not much changed compared to the previous day. However, the downward trend of world gold prices has been going on for many days, after leaving the 3,400 USD/ounce zone last week.

In about a week, the world gold price lost nearly 70 USD/ounce (equivalent to about 2.2 million VND); while the price of SJC gold bars is still at its peak, exceeding 124 million VND/tael.

This development caused the gap to widen, with the price of gold bars being 18 million VND/tael higher than the world price.

Source: https://nld.com.vn/sang-16-8-nhieu-tiem-vang-nho-day-gia-vang-mieng-sjc-len-cao-ky-luc-196250816090753048.htm