At the end of June 4, gold businesses SJC, PNJ, DOJI listed the buying price of SJC gold bars at around 114.9 million VND/tael and the selling price at 117.2 million VND/tael - unchanged from the morning.
Some other companies, such as Mi Hong, pulled the price of SJC gold bars to a lower level, selling them at 117 million VND/tael.
Similarly, the price of 99.99% gold rings and jewelry gold is also traded stably by businesses at around VND111 million/tael for buying and VND113.5 million/tael for selling. The price of gold rings is currently about VND3.5 million/tael lower than that of SJC gold bars.
The price of gold bars has stagnated in the past two days, as the world gold price remained at a high level, far above the 3,300 USD/ounce level. At 8:00 p.m. on June 4, Vietnam time, the world gold price was trading at 3,361 USD/ounce, down about 10 USD/ounce compared to the morning.
SJC gold bar price is still very high
With the current developments, the world gold price is lower than SJC gold bars by over 10 million VND/tael. Why do the management agencies continuously issue "hot" instructions, especially after the announcement of the conclusion of the inspection of gold trading activities of a series of banks and companies, the price of gold bars has not cooled down as expected?
Associate Professor Dr. Nguyen Huu Huan, Ho Chi Minh City University of Economics (UEH), commented that the recent gold inspection results had a certain impact on the market. After the announcement, domestic gold prices have somewhat slowed down and decreased slightly. However, the country is lacking in physical gold supply, while the demand for investment, storage and trading is very high. Therefore, if we do not handle the problem from the root - ensuring a stable gold supply, strictly managing distribution stages and creating a fair playing field, the gap between domestic and world gold prices will still exist.
"The difference between the price of SJC gold bars and the world gold price is currently at 10-11 million VND/tael, the target of reducing it to 3-4 million VND is possible but requires administrative measures. If we want to truly stabilize the price, we must wait for fundamental solutions such as establishing a national gold exchange, expanding supply by importing raw gold and liberalizing the market" - Associate Professor, Dr. Nguyen Huu Huan acknowledged.
Source: https://nld.com.vn/gia-vang-mieng-sjc-van-cao-chot-vot-so-voi-gia-vang-the-gioi-vi-sao-196250604202124654.htm
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