SJC gold bar price approaches 130 million VND/tael

Tonight, August 29, the world gold price suddenly increased by 21.7 USD/ounce, to 3,440 USD/ounce. The domestic gold price also increased sharply.

SJC gold bar price approaches 130 million VND/tael, highest ever - Photo: THANH HIEP

SJC gold bar price increased by 800,000 VND/tael today

The increase in world gold price tonight is equivalent to 693,000 VND/tael.

Converted according to the listed exchange rate at the bank, the world gold price is equivalent to 109.9 million VND/tael.

Today, the domestic gold price has been increasing continuously. At the opening time, Saigon Jewelry Company (SJC) increased the selling price of SJC gold bars by 400,000 VND, bringing the selling price of SJC gold bars to 128.9 million VND/tael.

By the end of today, the price of SJC gold bars increased by another 400,000 VND/tael, bringing the total increase for the day to 800,000 VND/tael and bringing the selling price of SJC gold bars to 129.3 million VND/tael.

The selling price of 9999 gold rings at SJC Company at the end of today also increased to 123.5 million VND/tael, the buying price was at 121 million VND/tael.

Other gold brands also simultaneously raised gold prices.

In general, over the past month, the price of SJC gold bars has increased by 7.9 million VND/tael, from 121.4 million VND/tael to the current level of 129.3 million VND/tael and the increase has not stopped.

The rapid increase in gold prices has led to the reoccurrence of queues to buy gold. Records over the past few days show that many people are still lining up to buy gold at SJC Company even though the amount of gold sold at SJC Company is very limited.

Please follow the domestic gold price movements here.

Why has the domestic gold price not cooled down yet?

World gold price increased tonight - Screenshot

Compared to the converted world gold price, SJC gold bars are 19.4 million VND/tael higher.

This is a very high difference and risky for gold buyers at this time.

Recently, the Government issued Decree No. 232 amending and supplementing a number of articles of Decree No. 24 on the management of gold trading activities, including eliminating the State's monopoly mechanism on the production of gold bars, export of raw gold and import of raw gold.

However, it will be more than a month, until October 10, before the regulation to abolish the gold bar monopoly takes effect.

At the same time, the market is waiting for the circular guiding implementation so that banks and gold businesses can qualify for import limits and start gold production.

It is forecasted that domestic gold prices will not cool down until November due to increased supply. Therefore, domestic gold prices have not been able to cool down yet.

Experts predict that if the world gold price continues to increase, tomorrow morning the selling price of SJC gold bars at gold companies will likely exceed 130 million VND/tael.

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Source: https://tuoitre.vn/gia-vang-mieng-sjc-ap-sat-nguong-130-trieu-dong-luong-20250829224202605.htm