People line up to buy SJC gold when the price hits its peak in Ho Chi Minh City

SJC gold bar price maintains record level

On the afternoon of August 26, the gold market continued to be “hot” when the price of SJC gold bars remained at a historical peak. At large enterprises such as SJC, DOJI , PNJ, the price of gold bars was listed around 126.1 million VND/tael for buying and 127.7 million VND/tael for selling.

Compared to previous days, the difference between buying and selling prices has widened from VND1 million to VND1.6 million per tael, showing that businesses are being more cautious in the face of strong market fluctuations.

The free market in Ho Chi Minh City also recorded a "hot" development of gold prices. Some small retail stores pushed the price of SJC gold bars to 129 million VND/tael for buying and 130 million VND/tael for selling - an unprecedented level in history.

At the same time, the price of 99.99% gold rings and jewelry gold also skyrocketed, ranging from 119.6 million VND/tael for buying to 122.2 million VND/tael for selling.

Queuing all week still can't buy SJC gold

Notably, despite the sharp increase in prices, the supply of gold bars has fallen into a state of scarcity. At the headquarters of Saigon Jewelry Company (SJC), many customers lined up since morning but still left empty-handed because the goods were sold out. Company staff had to ask customers to come back in the early afternoon.

Unable to buy gold bars, many people have switched to lining up to buy gold rings – a product with a more abundant supply. According to SJC regulations, each customer can only buy a maximum of 1 tael of gold ring in cash and 1 tael by bank transfer.

Mr. Le Manh Hoang (residing in Ben Thanh Ward, Ho Chi Minh City) said he had been queuing up to buy gold bars for the past week but failed. Today, he was only able to buy 1 tael of gold ring. "The price of gold is high, but many people are still determined to buy it. I also bought a little to keep my assets safe in the context of many market fluctuations," he explained.

Người dân xếp hàng mua vàng SJC khi giá lập đỉnh ở TP HCM - Ảnh 2. — People lined up to buy plain gold rings, paying in cash at SJC company this afternoon.

According to Mr. Hoang, he wanted to buy SJC gold bars when the price was around 123 million VND/tael, but every day he lined up but could not buy. "One day, the SJC store announced that it would sell only 50 taels, but when it was my turn, the gold was out of stock and they had to reschedule for another day. Until this morning, I was able to buy 1 tael of gold ring at 122 million VND/tael" - he said.

Many people turn to buying gold rings

Many people also said they had to switch to buying plain gold rings when SJC gold bars were not available.

At the transaction counter area of SJC Company, the line to buy plain gold rings was long, while the selling area was sparse. It took a long time for someone to come and sell gold.

"I bought this gold bar when the price was around 115 million VND/tael. This morning, seeing the gold price rise to over 127 million VND/tael and nearly 20 million VND higher than the world price, I decided to sell it" - Ms. Bich Thanh (living in Gia Dinh ward, Ho Chi Minh City), said.

Domestic gold prices are rising rapidly and the gap with world prices is widening. However, there are still many people lining up to buy gold.

Converted according to the exchange rate listed at the bank, the world gold price is currently around 107.9 million VND/tael, nearly 14 million VND/tael lower than the price of gold rings and nearly 20 million VND/tael lower than the price of SJC gold bars.