At 9:00 a.m. on July 31, the price of SJC gold bars was listed by SJC, PNJ, and DOJI companies at 119.7 million VND/tael for buying and 121.2 million VND/tael for selling, down 300,000 VND/tael compared to yesterday.
Similarly, the price of 99.99% gold rings and jewelry gold also decreased by only VND300,000/tael, to VND114.4 million/tael for buying and VND116.9 million/tael for selling.
Domestic gold prices have been slowly adjusted despite the sharp decline in world prices.
On the international market, the price of gold today broke the 3,300 USD/ounce mark, falling to 3,294 USD/ounce, down 35 USD/ounce compared to yesterday.
Since last weekend, precious metals on the international market have "evaporated" to 140 USD/ounce (equivalent to about 4.5 million VND).
SJC gold bar price remains high, widening gap with world price
The world gold price plummeted in the context of the US economy remaining positive, the latest data showed an impressive growth rate in the second quarter, reaching 3%, far exceeding the previous forecast and recovering strongly compared to the 0.5% decrease in the first quarter. The USD index continued to rise and the US Federal Reserve (FED) continued to keep the basic interest rate unchanged, causing the world gold price to almost fall freely.
Why is the price of SJC gold bars high?
In contrast, domestic gold prices are quiet and remain high. Gold expert Nguyen Ngoc Trong believes that domestic gold prices are "standing still" due to a wait-and-see mentality. Investors are currently not buying or selling partly because of a lack of supply, and partly because they are waiting for government intervention to narrow the gap between domestic and foreign gold prices.
The latest forecast on the price trend of SJC gold bars, experts say that gold prices will hardly decrease if supply does not increase, because the market is lacking sellers.
"The gold market supply is still lacking while people prefer to hold on, making it difficult for domestic gold prices to decrease following the world price," said gold expert Tran Duy Phuong.
Currently, the world gold price converted according to the listed exchange rate is about 104.8 million VND/tael, 16.4 million VND/tael lower than the price of SJC gold bars. This is an increasingly widening gap.
Source: https://nld.com.vn/gia-vang-the-gioi-lao-doc-vang-mieng-sjc-vang-nhan-se-the-nao-196250731092149166.htm
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