SJC gold bar price hits historic peak, should I buy now?

(NLDO) – The price of SJC gold bars has increased by 3-4 million VND/tael in just a few days, stimulating people's buying demand with the expectation of making a profit.

On August 9, the price of SJC gold bars was listed by companies at 123.2 million VND/tael for purchase and 124.4 million VND/tael for sale, an increase of 500,000 VND/tael compared to yesterday. In just about a week, the price of gold bars has increased rapidly by 3 million VND/tael, far surpassing the record of 124 million VND in April 2025. Many people expect the price of gold to continue to increase as the world price has not yet reached its peak and the domestic gold supply is still scarce.

However, speaking with a reporter from Nguoi Lao Dong Newspaper, gold expert Tran Duy Phuong said that gold still has risks in the coming time.

Gold expert Tran Duy Phuong comments on recent gold bar price movements

SJC gold bar price far exceeds world gold price

* Reporter: What is the factor that causes domestic gold prices to continuously increase, breaking old peaks and setting new peaks far exceeding the 124 million VND/tael range?

- Gold expert Tran Duy Phuong : The price of SJC gold bars has surpassed 124 million VND/tael, but the world gold price is still hovering around below 3,400 USD/ounce, which is much lower than the peak of 3,500 USD/ounce set in April. This means that the price of gold bars is increasing faster than the world price.

The jump in SJC gold bar prices is mainly due to supply. Not only is supply scarce, many people still prefer to buy SJC brand gold, further pushing up the price of gold.

The price of SJC gold bars is about 4 million VND higher than that of plain gold rings of all kinds (both are 99.99 gold).

The State Bank has yet to have any specific policy or new mechanism to contribute to increasing the gold supply.

In the near future, if the management agency has a solution to increase the gold supply for the market through specific policies, the gold price may cool down. Because the price of SJC gold bars is currently 16 million VND/tael higher than the world price.

Why shouldn't you buy SJC gold bars now?

* In fact, the current gold market size is not large. If the market has more gold bar supply, will the price of SJC gold plummet?

- The demand for SJC gold from people and investors is quite high, although the scale is not large. Because the scale is not large, when people prefer SJC gold bars and demand is greater than supply, it will push the price up.

On the contrary, the risk is that in case of a new gold policy of the State Bank to narrow the gap with the world price, the price of SJC gold bars will decrease sharply. As for other types of gold such as jewelry gold, plain gold rings of all kinds, the price fluctuates closer to the world price.

And at present, you should not buy SJC gold bars. Because the Government and the State Bank are taking drastic actions to issue policies with the aim of reducing the gap between domestic gold prices and world gold prices. When the policy is completed, the price of SJC gold bars will decrease.

At the same time, the world gold price is approaching a fairly high level, so the trend may decline again. If buying gold, investors can look to buy gold rings to reduce the risk of price difference with the world.

Source: https://nld.com.vn/gia-vang-mieng-sjc-vuot-dinh-lich-su-vi-sao-chuyen-gia-noi-khong-nen-mua-vao-luc-nay-196250809162637985.htm