Gold prices are high, why don't people sell?

This morning (April 26), the domestic gold price increased again to 119.5 million VND/tael of gold rings and 120.5 million VND/tael of gold bars. Surprisingly, although the gold price is high, people are selling less; many investors expect the gold price to rise to 150 million VND/tael.

Saigon Jewelry Company listed price SJC gold bars 118.5 - 120.5 million VND/tael for buying and selling, an increase of half a million VND/tael compared to yesterday morning's trading session.

Many other gold trading businesses also increased. gold price piece up to 120.5 million VND/tael sold. Buy-sell spread SJC gold bars 2 million VND/tael.

The price of gold rings also decreased by the same amount but was still lower than SJC gold bars. Specifically, Bao Tin Minh Chau Company Limited listed the price of gold rings at 116.5 - 119.5 million VND/tael; Phu Quy Jewelry Group listed the price gold ring 115 - 118 million VND/tael. The difference between buying and selling gold rings is 3 million VND/tael.

The price of gold rings and gold bars are both "anchored" at a high level.

At the same time, world gold price listed 3,316 USD/ounce, up 3 USD/ounce compared to yesterday afternoon.

According to statistics, the gold market domestic At this time, 80-95% of transactions are buys, while there are almost no sellers. The domestic gold market is small, so even a slight increase in demand will cause prices to rise rapidly. Many investors expect the price of gold to reach 150 million VND/tael this year.

In the currency market, Bank State listed exchange rate The central exchange rate is 24,948 VND/USD, up 20 VND compared to yesterday morning. This is the third consecutive strong increase of the central exchange rate with a total increase of 71 VND.

This morning, the exchange rate USD at banks continued to increase with most selling prices listed at the ceiling, at 26,195 VND/USD.

Currently, Vietcombank - the bank with the largest foreign currency trading volume in the system, listed the USD price at 25,805 - 26,195 VND/USD, up 21 VND in both directions compared to yesterday morning.

On the black market, the USD price is around 26,300 - 26,400 VND/USD, up 20 VND compared to yesterday morning.

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