SJC gold bar buyers lost 5.3 million VND/tael after one week

(Dan Tri) - At the beginning of the week, SJC gold bars were priced at 119-121 million VND/tael (buy - sell) but by the end of the week they were only 115.7-118.2 million VND. After a week, gold bar buyers temporarily lost 5.3 million VND/tael.

Gold price down

At the end of the trading week from May 26 to May 31, the price of SJC gold bars was listed by large enterprises at 115.7-118.2 million VND/tael (buy - sell). The difference between the two buying and selling directions was maintained at 2.5 million VND.

At the beginning of the week, gold bars were priced at 119-121 million VND/tael (buy - sell). Thus, after a week of trading, the buying price decreased by 3.3 million VND and the selling price decreased by 2.8 million VND. If customers buy gold bars at the price of 121 million VND/tael, currently the "gold shops" only buy at 115.7 million VND/tael, meaning customers have temporarily lost 5.3 million VND/tael.

Meanwhile, the price of gold rings ended this week listed at 100.5-113.5 million VND/tael (buy - sell). Thus, the selling price of gold bars is 4.7 million VND/tael more expensive than gold rings.

Gold bar prices fell last week (Photo: Thanh Dong).

Domestic gold prices fluctuated strongly last week and tended to decrease towards the end of the week, partly due to the influence of policies and data on the domestic gold market.

On May 28, at a working session with the Central Policy and Strategy Committee on mechanisms and policies for effective management of the gold market, General Secretary To Lam requested to eliminate the monopoly on gold bars in the principle that the State still manages but can grant licenses to many qualified enterprises to participate in production.

On May 30, the State Bank announced the inspection results of 6 major gold trading units in the market, including: Saigon Jewelry Company (SJC), DOJI Jewelry Group, Phu Nhuan Jewelry Company (PNJ), Bao Tin Minh Chau, Tien Phong Bank (TPBank) and Vietnam Export Import Bank (Eximbank).

Enterprises assessed by the State Bank comply with regulations on gold trading activities, report data, and have many more positive changes in anti-money laundering... However, these units still have violations that lead to administrative fines from management agencies, ranging from 400 million VND to several billion VND.

Violations include lack of customer identification, reporting of large transactions; violations of documents, accounting and taxes or signs of providing misleading information about products to attract customers, unfair competition...

In the world , the price of gold is around 3,289 USD/ounce. Last week, the precious metal "evaporated" 1.8%.

Some experts believe that political factors such as tariffs, budget spending and volatility from the US government will continue to boost gold this week. However, others warn that risks from legal rulings, the possibility of reaching a trade deal, or signals from the bond market could cause gold prices to fall.

Aside from the impact of President Donald Trump’s statements and the tariff controversy, experts emphasize that the bigger driver for gold prices comes from long-term trends: central bank assets shifting away from the US dollar, inflation concerns and global geopolitical instability.

Central rate hits record high

At the end of last week, the central exchange rate was listed by the State Bank at 24,978 VND/USD, up 16 VND compared to the previous trading session and reaching the highest level ever.

With a 5% amplitude, the ceiling and floor exchange rates are 26,226 VND/USD and 23,729 VND/USD, respectively. Meanwhile, at the State Bank of Vietnam, the reference exchange rate is currently at 23,780 VND/USD (buy) and 26,176 VND/USD (sell).

The record exchange rate movement also happened similarly at major commercial banks, pushing the selling price up to 26,210 VND/USD. Accordingly, major banks listed the exchange rate at 25,820 - 26,210 VND/USD (buy - sell). At the group of private commercial banks, units listed the greenback trading price at 25,760 - 26,210 VND/USD (buy - sell), an increase of 70 VND compared to the previous session.

Mid-sized banks also increased the trading price of this foreign currency by 30-70 VND, with the buying price fluctuating around 25,650 VND/USD, and the selling price at 26,200 VND/USD.

On the free market, some foreign exchange points in Hanoi also buy and sell USD at 26,260-26,360 VND/USD, an increase of 20 VND each way.

Source: https://dantri.com.vn/kinh-doanh/nguoi-mua-vang-mieng-sjc-lo-53-trieu-dongluong-sau-mot-tuan-20250602002703280.htm