SJC gold bar price is sky high, should we buy or sell in the current context?

(NLDO) – The price of SJC gold bars continues to maintain at a historical peak, exceeding 125 million VND/tael and higher than the world price by over 18 million VND/tael.

SJC gold bar price exceeds 125 million VND/tael again

On the morning of August 22, the price of SJC gold bars once again returned to a record high when businesses pushed it up to around 124.4 million VND/tael for buying and 125.4 million VND/tael for selling.

The difference between buying and selling prices remains at 1 million VND/tael as at the beginning of the week until now, instead of fluctuating up to 2-3 million VND/tael as before.

Over the past month, the price of gold bars has increased by nearly 2 million VND/tael; since the beginning of the year, the increase has been about 40 million VND, equivalent to 47%.

On the free market, the price of SJC gold bars is traded at a price about 600,000 VND/tael higher than that of large enterprises, with the buying price around 125.4 million VND and the selling price 126.2 million VND/tael. However, compared to yesterday, the free gold price slightly decreased by about 100,000 VND/tael.

SJC gold bar price maintains historical peak

The price of 99.99% gold rings and jewelry gold also continued to increase, currently trading at 117.5 million VND/tael for buying and 120 million VND/tael for selling, an increase of 200,000 VND/tael compared to yesterday. In just two days, gold rings have increased by a total of 600,000 VND/tael. Since the beginning of the year, this type of gold has increased by about 35 million VND, equivalent to 41%.

SJC gold bar price goes against the world trend

Domestic developments were in contrast to international ones. At 9:00 a.m. (Vietnam time), the precious metal was traded on the international market at $3,337/ounce, down $5/ounce from the previous session. Converted at the current exchange rate, world gold is equivalent to about VND107 million/tael, VND13 million lower than gold rings and more than VND18 million lower than SJC gold bars.

The large gap between domestic and world gold prices is raising many concerns. Some experts warn that buying SJC gold bars at this time is risky, especially in case the State Bank intervenes to increase supply and narrow the price gap. In addition, the supply of SJC gold bars at large enterprises is currently quite limited, while buying through the free market is at risk of encountering fake gold.

Source: https://nld.com.vn/gia-vang-mieng-sjc-cao-chot-vot-nen-mua-hay-ban-196250822085918131.htm