9999 gold ring still anchors at a higher price than SJC gold

World gold prices slightly decreased, but 9999 gold rings on the market on the weekend of July 13 were still higher than SJC gold.

[embed]https://www.youtube.com/watch?v=NqUNDP9dAwE[/embed]

At around 10am, Doji Group had the highest listed price of Hung Thinh Vuong 9999 gold rings in the market, although the price remained unchanged from late yesterday afternoon, at VND75.9 million/tael for buying and VND77.15 million/tael for selling. Bao Tin Minh Chau Company also traded 9999 gold rings at VND75.68 million/tael for buying and VND76.98 million/tael for selling, unchanged from the previous day.

After the two major gold trading companies PNJ and SJC increased the purchase price of SJC gold bars the day before, this morning, Bao Tin Minh Chau Company also increased the purchase price of SJC gold to 380,000/tael and kept the selling price unchanged, trading at 75.88 million VND/tael for buying and 76.98 million VND/tael for selling. SJC and PNJ still listed the same price compared to the day before: 75.48 million VND/tael for buying and 76.98 million VND/tael for selling.

Thus, the highest price of 9999 gold rings in the market is anchored higher than SJC gold. The reason why the price of 9999 gold rings has increased sharply in recent times, in addition to following the trend of world gold, is that people have difficulty buying SJC gold bars in the market and have switched to buying 9999 gold, which has pushed the price up sharply and officially surpassed the price of SJC gold. Currently, 5 units are selling stabilized gold (4 State Commercial Banks and SJC Company) online, but people have reported that they cannot place orders because after opening for sale, only about 1 minute later, all purchases are gone.

In the world gold market, the price of gold closed the weekend session in New York at 2,410.5 USD/ounce, down 4 USD compared to the previous session. This price after conversion is equivalent to more than 73.9 million VND/tael, lower than SJC gold by nearly 3.1 million VND/tael, lower than 9999 gold rings by about 3.25 million VND/tael.

Despite a slight decrease, gold prices remained above $2,400 an ounce, rising for the third consecutive week as the latest US inflation report continued to reinforce the possibility that the US Federal Reserve (Fed) will cut interest rates sooner than expected. According to CME's FedWatch tool, the market predicts a more than 90% chance of a rate cut in September.

Nhung Nguyen

Source: https://www.sggp.org.vn/vang-nhan-9999-van-neo-o-gia-cao-hon-vang-sjc-post749122.html