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

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. 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.

Giá vàng miếng SJC tăng lên mức khó tin, cách dự báo 130 triệu đồng không còn xa- Ảnh 2. — 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 price of gold 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. The DXY index is currently at 97.7 points. This has a very positive impact on the price of gold.

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.