Gold bar price exceeds 134 million VND/tael, highest in history

At 9:00 a.m. this morning, the price of gold bars was listed by Doji and SJC at 132.9 - 134.4 million VND/tael (buy - sell), an increase of 500,000 VND/tael compared to early this morning. Meanwhile, the price of gold rings was listed at 126.5 - 129.5 million VND/tael (buy - sell), an increase of 200,000 VND/tael.

It is worth noting that the domestic gold price increased despite the sharp decrease in world prices this morning. At 6am, the gold price on Kitco was at 3,539 USD/ounce, down 20 USD after reaching an all-time high, but still holding steady at the high level.

Gold prices continue to reach new peaks. (Photo: Cong Hieu).

Regarding the mixed developments of domestic gold prices, Dr. Nguyen Tri Hieu, a financial and banking expert, analyzed: In addition to being affected by the world, the domestic gold market is also greatly affected by the imbalance of supply and demand. " The scarcity of supply has created great pressure, causing domestic gold prices to increase faster and stronger than international prices, but when world prices decrease, domestic prices often adjust less, or even do not decrease accordingly. The market currently lacks effective regulatory measures to ensure stable supply in the short term ," said Mr. Hieu.

According to Mr. Hieu, recently, the supply of SJC gold bars has mainly been due to the State Bank's stabilization sale, which is only a temporary solution. Meanwhile, due to the increasing price of gold, people do not sell, and have a hoarding mentality, so the supply is becoming more scarce. Therefore, the management agency needs to allow businesses to import gold and switch to the role of manager and supervisor.

Expert Tran Duy Phuong also expressed his opinion that the psychology of rushing to buy gold is also the reason why gold prices are difficult to decrease sharply, even though the world may decrease. During the days when gold prices broke the peak, people still bought. The demand was so high that many stores ran out of gold at times.

Associate Professor Dr. Nguyen Huu Huan, lecturer at the Ho Chi Minh City University of Economics , said that domestic gold prices have increased sharply and are not following the world gold price due to the scarce supply of gold bars. " Many small businesses said they have run out of gold rings to sell, or are only selling in limited quantities. Meanwhile, those who sold when domestic prices had not increased in time now have no more goods to sell. Supply is exhausted while demand remains high, causing prices to rise sharply, " Mr. Huan analyzed.

Mr. Nguyen Quang Huy, CEO of the Faculty of Finance and Banking (Nguyen Trai University) also emphasized that the State Bank's monopoly on gold bar imports is making the market uncompetitive, creating a large gap between domestic and world gold prices. According to Mr. Huy, the supply of SJC gold is scarce, while demand for buying is increasing rapidly. The sharp increase in the difference between domestic and world gold prices reflects a clear imbalance between supply and demand. The fear of missing out on opportunities keeps domestic gold demand high, which makes domestic gold prices always maintain good prices, even when world gold prices fall sharply.

Commenting on the gold price in the coming time, Dr. Nguyen Tri Hieu said that from now until the end of 2025, the world and domestic gold prices will increase very high due to 4 main reasons. Firstly, the USD, if measured by the USD Index, is at a low level and the value of the USD is decreasing compared to other currencies.

Second, the US tariff issue has put many countries in crisis and is still a hot spot.

Third, the geopolitical issue between Ukraine and the Middle East remains complicated.

Fourth, the US economy is facing many uncertainties. The US Federal Reserve (Fed) has not yet decided to lower interest rates because they are worried that the tariff issue will increase inflation.

Vtcnews.vn

Source: https://vtcnews.vn/gia-vang-mieng-vuot-134-trieu-dong-luong-cao-nhat-lich-su-ar963758.html