
After many adjustment sessions, the domestic gold market rebounded on July 11. According to records, the price of SJC gold bars at major brands such as SJC, PNJ, DOJI , Bao Tin Minh Chau... increased by 200,000 VND/tael in both directions. The buying price fluctuated from 118.3 - 119 million VND/tael, the selling price was commonly at 121 million VND/tael. The price of 9999 gold rings also increased slightly, listed around 114 - 118.7 million VND/tael depending on the brand.
However, while the national market is bustling, in Nghe An , gold trading is quite quiet. The price of 9999 gold bars listed by private gold shops in Nghe An is only from 105 - 108 million VND/tael (buy) and 111 - 111.3 million VND/tael (sell), 5 - 7 million VND/tael lower than major domestic brands.

According to research, the reason for this difference is that most gold shops in Nghe An are private businesses, not official agents of major brands such as SJC, PNJ or DOJI. Therefore, they are not directly distributed branded gold bars but mainly trade in plain round gold rings, 9999 gold jewelry crafted on site or purchased from small retail sources. This makes the input price cheaper, but also means that they cannot be listed as high as major brands.
However, there was a time when the gold price in Nghe An was 1-2 million VND/tael higher than the listed price of major domestic brands, especially during strong fluctuations such as May and June 2024. This shows that the difference in gold price in Nghe An compared to the general market is a temporary phenomenon, depending on many intertwined factors.

Gold prices in Nghe An, like many other provinces and cities, do not depend entirely on the listed prices of large enterprises, but are strongly influenced by the actual supply and demand laws in the locality. When demand for buying is suddenly high (for example, during weddings, year-end hoarding or rumors of price increases), the selling prices of gold shops can be pushed up above the general price, even 1-2 million VND/tael higher than SJC. On the contrary, when the market is quiet or many people sell at the same time, the gold price in Nghe An is lower than the domestic gold price.
Notably, the difference in buying and selling prices in Nghe An at this time is up to 4 - 4.5 million VND/tael, while the general price difference in the whole country is only about 2 - 2.5 million VND/tael.
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In addition, local transactions are mainly small-scale, serving the needs of weddings, gifts or family storage, not large-scale investments. Low liquidity forces gold shops to increase their margins to compensate for operating costs, working capital interest and the risk of unexpected price drops.
Although the gold price is lower than the market price, when reselling, there is a “double loss” because the difference between buying and selling is stretched. This makes the market difficult to be active, transactions only take place at a slow pace, more for precaution than real investment. According to the owner of a long-standing gold shop in Truong Vin ward: “ The world gold price is up, the domestic price is up, but locally it is quiet because few people buy. The number of people coming to sell gold has increased by 20% compared to the same period last month. Most transactions are currently only at the retail level, serving the needs of gifts, weddings or temporary liquidity”.

In fact, people are also cautious when facing fluctuations in the precious metal market. Mr. Khanh Huy (Truong Vinh ward) shared: “Gold prices fluctuate unpredictably, if you buy at the wrong time, you will lose immediately. There was a time when I bought for a week and lost 3 million VND/tael. If you buy for long-term storage, it is okay, but if you buy for short-term, it is difficult to make a profit because the difference between buying and selling is too high.”
In this context, experts recommend that people, especially small investors, should be cautious when participating in the gold market. Regularly updating information, choosing the right time to buy and sell, and prioritizing long-term storage instead of short-term surfing are important factors to limit risks.
Source: https://baonghean.vn/gia-vang-tang-tro-lai-bien-do-mua-ban-o-nghe-an-gian-rong-10302093.html
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