Gold ring price is at its highest in history, why are buyers suffering heavy losses?

This morning (August 26), the price of gold rings remained at its highest level ever, above 78 million VND/tael. However, those who bought gold rings a week ago still lost more than 1 million VND/tael.

Gold ring price Smooth round gold is listed by Bao Tin Minh Chau Company at 77.23 - 78.43 million VND/tael for buying and selling.

Saigon Jewelry Company listed the price of gold rings at 77.1 - 78.4 million VND/tael.

Doji and Phu Quy Groups both listed the price of round gold rings at 77.2 - 78.45 million VND/tael.

Gold price Round rings increased continuously in the past week when the world gold price continuously set new records.

Gold ring price increased sharply over the past week.

However, gold buyers Since last week, gold prices have still lost more than 1.1 million VND/tael due to the large difference between buying and selling prices at gold shops.

SJC gold bar price is bank and listed businesses 79-81 million VND/tael for buying and selling.

At the same time, world gold price at $2,512/ounce.

Last week, the Hanoi Market Management Department announced that it would inspect the gold price listing and origin of 116 gold trading enterprises. The inspection will last until October 15.

Recently, market management in many localities has also carried out similar activities. The nationwide inspections are taking place in the context of gold prices. domestic strong fluctuations

In May, the State Bank announced a plan to inspect four businesses including SJC, DOJI, PNJ, Bao Tin Minh Chau, and two banks TPBank and EximBank within 45 days. The inspection content is about compliance with the law on gold trading; preventing and combating money laundering; creating and using invoices, documents and fulfilling tax obligations.

In the currency market, on August 26, the State Bank listed the central exchange rate at 24,250 VND/USD. At commercial banks, the USD exchange rate was around 24,843 - 25,183 VND/USD.

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