SJC gold bar price increased to an unbelievable level, not far from the forecast of 130 million VND

(NLDO) – The price of SJC gold bars has just increased by more than 1 million VND/tael and is heading towards the 127 million VND/tael mark.

On the morning of August 23, the price of SJC gold bars was suddenly pushed up to a new high by gold companies, 125.6 million VND/tael for buying and 126.6 million VND/tael for selling, an increase of 1.2 million VND/tael compared to yesterday.

This is a very strong increase in the price of SJC gold bars in recent days.

The difference between buying and selling prices remains at 1 million VND/tael as at the beginning of the week until now. This development is also noteworthy, because in previous strong fluctuations, businesses often widened the buying and selling price range to 2-3 million VND/tael.

The price of 99.99% gold rings and jewelry gold also continued to increase, currently trading at 118.5 million VND/tael for buying and 121 million VND/tael for selling, an increase of 1 million VND/tael compared to yesterday. In just two days, gold rings have increased by a total of 1.6 million VND/tael.

SJC gold bar price continuously increases shockingly

Domestic gold prices rose as world prices soared over the weekend. At 9 a.m. (Vietnam time), the precious metal was trading on the international market at $3,372 an ounce.

According to analysts, the gold price jumped when the market had high expectations that the US Federal Reserve (FED) would cut interest rates next September, causing the USD index (DXY) to plummet, at one point falling vertically by about 1% after the above information. Currently, the DXY index is at 97.7 points. This has a very positive impact on the gold price.

However, converted at the current exchange rate, world gold is only about 107.7 million VND/tael, 13.3 million VND lower than gold rings and 18.9 million VND lower than SJC gold bars.

This is a very high difference between domestic gold prices and world prices. This gap occurs in the context of SJC gold bar prices increasing rapidly and decreasing more slowly than world prices.

World gold prices skyrocketed in the weekend trading session

Source: https://nld.com.vn/gia-vang-mieng-sjc-tang-len-muc-kho-tin-cach-du-bao-130-trieu-dong-khong-con-xa-196250823090711255.htm