SJC gold suddenly jumped to 80 million VND/tael even though world gold price turned to decrease

After being “frozen” for about 1.5 months at 76.98 million VND/tael, the price of SJC gold this morning, July 18, suddenly increased by more than 3 million VND/tael, to 80 million VND/tael. The difference between SJC gold and the world gold price widened to 4.4 million VND compared to the previous day at less than 1 million VND/tael.

At around 9:30 a.m. on July 18, SJC Company increased the buying price of SJC gold by VND2.52 million and the selling price by VND3.02 million compared to yesterday, listing it at VND78.5 million/tael for buying and VND80 million/tael for selling.

PNJ Company and Doji Group also increased by 2.5-2.52 million VND for buying and increased by 3.02 million VND for selling, trading at 78.5 million VND/tael for buying and 80 million VND/tael for selling.

Not only large enterprises, Mi Hong gold shop also traded at 78.5 million VND/tael for buying and 80 million VND/tael for selling, an increase of 2.3 million VND for buying and 3.02 million VND for selling. Bao Tin Minh Chau Company also increased 2.62 million VND for buying and 3.02 million VND for selling, to 78.5 million VND/tael for buying and 80 million VND/tael for selling.

The selling price of SJC gold at 4 State-owned commercial banks (BIDV, Agribank , Vietinbank and Vietcombank) this morning also increased to 80 million VND/tael.

Meanwhile, the price of 9999 gold rings this morning was adjusted up and down by businesses in opposite directions. Specifically, SJC Company listed 9999 gold rings at 76 million VND/tael for buying and 77.6 million VND/tael for selling, an increase of 20,000 VND for buying and 620,000 VND for selling compared to the previous day.

PNJ Company reduced the buying price by 200,000 VND and increased the selling price by 500,000 VND, listed at 76.1 million VND/tael for buying and 77.5 million VND/tael for selling. Doji Group reduced the buying price by 250,000 VND and sold price by 150,000 VND, trading Hung Thinh Vuong 9999 gold rings at 76.35 million VND/tael for buying and 77.55 million VND/tael for selling.

On the world gold market, the closing price of gold in New York on the night of July 17 decreased to 2,457.8 USD/ounce, down 10.3 USD compared to the previous session. The spot gold price on the Kitco floor on the morning of July 17 was trading at 2,464.75 USD/ounce. This price after conversion is equivalent to more than 75.6 million VND/tael, 4.4 million VND lower than SJC gold compared to yesterday at 800,000 VND/tael. The price of 9999 gold rings is 2 million VND/tael higher than world gold.

World gold prices turned down as investors took profits after hitting a peak of around $2,840/ounce the day before. However, experts predict that gold prices will continue to surpass the peak in the coming time after the US Federal Reserve (FED) cut interest rates twice in 2024.

Nhung Nguyen

Source: https://www.sggp.org.vn/vang-sjc-bat-ngo-vot-len-80-trieu-dongluong-du-vang-the-gioi-quay-dau-giam-post749883.html