The price of SJC gold bars is 16.2 million VND/tael higher than the converted world gold price - Photo: THANH HIEP
SJC gold bar price increased sharply due to limited supply
At the end of today, August 9, the price of SJC gold bars continued to remain at 124.4 million VND/tael, also the highest level in history. The buying price of SJC gold bars also remained at 123.2 million VND/tael. The difference between buying and selling prices was 1.2 million VND/tael.
The selling price of 9999 gold rings at SJC Company at the end of today was 119.8 million VND/tael, buying price was 117.3 million VND/tael. Compared to the price of SJC gold bars, the price of 9999 gold rings is 4.6 million VND/tael lower for selling and 5.9 million VND/tael lower for buying.
The world gold price ended the trading week at 3,399.6 USD/ounce. Converted according to the exchange rate listed at the bank, the converted world gold price is equivalent to 108.2 million VND/tael.
Thus, compared to the converted world gold price, the price of SJC gold bars is 16.2 million VND/tael higher, and the price of gold rings is 11.6 million VND/tael higher.
According to expert Tran Duy Phuong, the price of SJC gold bars is high due to increased demand for gold, while supply is somewhat limited, because for many years businesses have not been licensed to import raw gold.
Therefore, although the Prime Minister has directed to reduce the difference between domestic and world gold prices to around 1-2%, for many months the domestic gold price has not been able to decrease to this level.
Mr. Phuong also predicted that the world gold price will decrease to the threshold of 3,000 USD/ounce, before re-establishing the peak of 3,500 USD/ounce by the end of the year.
Buying gold rings is more profitable than gold bars
So should we buy gold now? According to expert Tran Duy Phuong, we should choose the right time to buy gold to achieve the highest profit rate. At this time, buying 9999 gold rings is more profitable because the price of gold rings is 4.6 million VND/tael lower than the price of SJC gold bars.
He also warned investors to avoid buying at this time, because it will be very risky and there is a possibility of chasing the peak.
Gold prices are at their highest level in two weeks, thanks to increased demand for risk protection when the US reciprocal tariffs officially took effect. Ongoing trade tensions and unresolved geopolitical tensions will continue to support gold prices, as demand for "safe havens" remains high.
In addition, the possibility of the US Federal Reserve (Fed) cutting interest rates next month is high. This information has supported gold prices to approach the 3,400 USD/ounce mark.
Gold prices were further supported as weekly data from the US Labor Department showed initial jobless claims rose to a one-month high, suggesting a weakening US labor market and strengthening the case for the Federal Reserve to cut interest rates at its meeting next month.
Source: https://tuoitre.vn/gia-vang-mieng-sjc-tang-manh-tranh-mua-duoi-keo-rui-ro-20250809205935025.htm
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