SJC gold bar price exceeds 129 million VND, why should you buy plain gold rings?

At the end of August 25, the price of SJC gold bars continued to increase as they continuously set new peaks. Large enterprises such as SJC, DOJI , and PNJ simultaneously listed the price at 125.6 million VND/tael for buying and 127.1 million VND/tael for selling, an increase of 200,000 VND/tael compared to the morning.

As of today, the price of gold bars increased by half a million VND per tael, continuing the strong increase from last week and is at a record peak.

However, this is not the highest mark for gold bar prices.

In the market, some small shops in Ho Chi Minh City continuously pushed the price of SJC gold bars to 128.2 million VND/tael for buying and 129.2 million VND/tael for selling, an increase of 900,000 VND/tael compared to the morning. In just 1 day, the price of gold increased by 1.2 million VND/tael.

At the same time, 99.99% gold rings and jewelry gold also increased by 300,000 VND/tael compared to the morning, trading around 119.1 million VND/tael for buying and 121.6 million VND/tael for selling.

Giá vàng miếng SJC vượt 129 triệu đồng, vì sao nên mua vàng nhẫn trơn? - Ảnh 1. — The price of SJC gold bars is 5 million VND/tael higher than 99.99 gold rings.

The price of SJC gold bars increased faster than that of gold rings, pushing the gap up to 5-7 million VND/tael. This is a very high difference between the prices of SJC gold bars and gold rings in recent times.

Notably, the domestic gold market fluctuated strongly in price, contrary to the stagnation of world prices. In the international market, the gold price this afternoon was traded at 3,367 USD/ounce, unchanged from the weekend session.

Currently converted according to the exchange rate at Vietcombank , world gold is equivalent to about 107.5 million VND/tael, nearly 14 million lower than gold rings and nearly 19.5 million VND/tael lower than SJC gold bars. This is a difference approaching the record of about 20 million VND/tael in the previous period.

SJC gold bar price is 19 million VND/tael higher than world price

According to analysts, the price of gold has been continuously increasing in the domestic market in the context of scarce supply, and the demand for gold is still very high. According to the reporter of Nguoi Lao Dong Newspaper today, many people still asked to buy SJC gold bars despite the gold price reaching its highest peak ever, and being 19 million VND/tael higher than the world price.

From the perspective of a gold expert, Mr. Tran Duy Phuong believes that buying SJC gold bars at this time is risky because the world gold price has stagnated recently and there is no momentum to break out. At the same time, the price of SJC gold bars is much higher - exceeding 19 million VND/tael compared to the world gold price, so there may be a risk of reversal - in case the State Bank increases supply.

"If you want to buy gold now and reduce risks, people can choose 99.99 gold rings from reputable brands or large gold shops. The price of gold rings is currently 14 million VND higher than the world price - although high, it is still much lower than the difference in the price of SJC gold bars. Buying gold rings is also easier when the supply is abundant, compared to the limited supply of SJC gold bars" - Mr. Tran Duy Phuong analyzed.