Why did the price of SJC gold bars suddenly narrow the gap with the world?

(NLDO) – Domestic gold prices jumped to nearly 120 million VND/tael following the increase in world prices.

On the morning of June 21st, the domestic gold market rebounded, with both SJC gold bars and gold rings rising.

According to updates from gold trading businesses, the price of SJC gold bars is currently listed at 117.7 million VND/ounce for buying and 119.7 million VND/ounce for selling, an increase of 300,000 VND per ounce compared to yesterday morning.

The price of 99.99% pure gold rings and jewelry also edged up by 200,000 VND to 113.7 million VND/ounce for buying and 116.2 million VND/ounce for selling.

While gold ring prices are trading at their lowest level in nearly a month, SJC gold bars are fluctuating within a narrower range around 119-120 million VND/ounce.

Domestic gold prices rose again as the precious metal closed the trading week at $3,369 per ounce on the international market, an increase of more than ten dollars per ounce compared to the previous session.

According to experts, in addition to the influence of world prices, domestic gold prices have recently been affected by the gold management policies of the Government and the State Bank of Vietnam.

SJC gold bar prices have narrowed the gap with world prices, although they remain high.

In their latest gold market update report, experts from Rong Viet Securities Company (VDSC) noted that the gold market in the first half of 2025 witnessed significant fluctuations. Gold prices continuously set new highs at several points, while the price difference between domestic and international gold tended to widen.

Gold prices in Vietnam have risen rapidly and are significantly higher than world gold prices. Notably, since mid-April 2025, the price difference between the two markets has surged from 4% to 8%-11% in just two days and remained so until near the end of May before showing signs of narrowing again.

Currently, the world gold price, converted at the listed exchange rate, is approximately 107 million VND/ounce, which is more than 12 million VND/ounce lower than the price of SJC gold bars. This gap has narrowed compared to the previous record high of 18-20 million VND/ounce.

According to VDSC's assessment, the market is showing positive signs as the difference between domestic gold prices, especially SJC gold bars, and world gold prices is gradually decreasing. This development is believed to stem from new proposals on gold market management put forward by the Government at the end of May.

These proposals are strategic, focused, and long-term, reflecting a shift in thinking and approach aimed at tightly controlling the gold market, curbing speculation, and restoring gold to its rightful role as a financial asset.

Although the gap between domestic and international gold prices has only narrowed for a short time, VDSC experts believe this is a positive sign indicating that the initial impact of regulatory policies is proving effective.

Source: https://nld.com.vn/vi-sao-gia-vang-mieng-sjc-bat-ngo-thu-hep-chenh-lech-voi-the-gioi-196250621100054419.htm