At the close of trading on May 28, 2024, the price of domestic SJC gold surged compared to the early morning of the same day. At 8 PM, the price of SJC gold was listed by Saigon Jewelry Company Limited (SJC) at 88.5 million VND/ounce for buying and 90.5 million VND/ounce for selling.
Compared to the early morning of the same day, the price of SJC gold at this establishment has been adjusted upwards by 600,000 VND/ounce for both buying and selling.
The difference between the buying and selling price of gold at this establishment is currently 2 million VND per tael, which is a high gap and shifts the risk to consumers.
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| At the close of trading on May 29, 2024, Saigon Jewelry Company Limited (SJC) listed the price of SJC gold at 88.5 - 90.5 million VND/ounce for buying and selling respectively. |
At the close of trading on May 28, 2024, Bao Tin Minh Chau listed the price of SJC gold at 88.45 - 90 million VND/ounce for buying and selling. Compared to the early morning of the same day, the price of SJC gold at this establishment was adjusted up by 550,000 VND/ounce for buying and 400,000 VND/ounce for selling.
Similarly, the DOJI brand is listing SJC gold prices at 88.4 - 90 million VND/ounce for buying and selling.
Today, the price of gold rings in Vietnam also increased, following the trend of gold bar prices. Saigon Jewelry Company Limited (SJC) listed the price of gold rings at 75 million VND/ounce for buying and 76.7 million VND/ounce for selling.
The price of 9999 Hung Thinh Vuong gold rings at DOJI is listed at 75.40-76.80 million VND/ounce for buying and selling. Compared to the closing price of the previous trading session, the price of gold rings has increased by 100,000 VND/ounce for buying and 50,000 VND/ounce for selling.
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| Vietnamese gold prices typically follow global prices. Therefore, it is highly likely that domestic gold prices will increase on May 29, 2024. (Photo: Vnexpress) |
In the domestic market, according to analysts, the price of gold in Vietnam rose sharply today following the announcement by the State Bank of Vietnam to halt gold auctions. Specifically, late yesterday evening (May 27th), the State Bank of Vietnam announced it would adjust its gold market stabilization plan, suspending gold bullion auctions and implementing an alternative stabilization plan as soon as possible, expected to begin on June 3rd. This information has created anticipation among the gold market, investors, and the public, who are eagerly awaiting further gold market stabilization measures from the State Bank of Vietnam.
Previously, this unit had organized up to 9 gold auctions, of which 3 were canceled and more than 1.8 tons of gold bars were added to the market, but it still failed to resolve the price discrepancy between domestic and international SJC gold bars.
Offering advice to investors and domestic citizens who want to buy gold at this time, experts recommend that investors and citizens should be cautious in transactions, especially when investing in gold.
On the global market, gold prices cooled down despite a decline in the US dollar index. At 6:00 PM on May 28th, the spot gold price on the world market stood at $2,342.7 per ounce, down $8 per ounce compared to the morning trading session. Gold futures stood at $2,343.7 per ounce, down $8.8 per ounce compared to the morning trading session.
Kelvin Wong, senior market analyst for the Asia- Pacific region at OANDA, said the strong US dollar is due to changes in US monetary policy, and is impacting gold prices. However, in the short term, spot gold prices still have an upward trend. And $2,310/ounce is a key short-term support level this week, Wong added.
Some experts believe that the price of gold in Vietnam usually follows the global price. Therefore, it is very likely that the price of gold in the country will increase on May 29, 2024. However, in the long term, as the authorities implement stabilization measures, the price of gold may gradually cool down.
Source: https://congthuong.vn/du-bao-gia-vang-ngay-2952024-gia-vang-tang-manh-tro-lai-322882.html
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