Small gold shop pushes SJC gold bar price to over 130 million VND/tael

(NLDO) – Domestic gold prices have not stopped rising this morning, especially gold shops in Ho Chi Minh City have pushed prices past the record mark of 130 million VND.

On the morning of August 29, the domestic gold market continued to record unexpected fluctuations, with both the price of SJC gold bars at gold companies and the free market.

SJC gold bar price exceeds 130 million VND/tael

Major gold companies such as SJC and PNJ listed the buying price of SJC gold bars at 127.4 million VND/tael and the selling price at 128.9 million VND/tael, an increase of a total of 700,000 VND per tael compared to yesterday morning.

Gold bar prices have increased for many consecutive days and are at their highest level in history.

However, this is still not the highest price on the market. Some small gold shops in Ho Chi Minh City and Hanoi quoted SJC gold bars at 129.5 million VND/tael for buying and 130.5 million VND/tael for selling, an increase of nearly 2 million VND/tael compared to yesterday morning. Gold prices on the free market increased more strongly at large gold companies.

For 99.99% gold rings and jewelry gold, this morning, businesses also continued to raise the gold transaction price to 120.6 million VND/tael for buying and 123.1 million VND/tael for selling, an increase of half a million VND per tael compared to yesterday.

The difference between buying and selling price of gold rings is higher than the price of SJC gold bars.

A notable development is that the trading margin of gold rings has been pushed up to 3 million VND by businesses; while the difference between the buying and selling price of SJC gold bars is only 1.5 million VND/tael. This development reflects that businesses accept lower profit margins, encouraging people to sell SJC gold bars in the context of high demand and limited supply.

SJC gold bar price increased again this morning

In the international market, the price of gold today is being traded at 3,410 USD/ounce, an increase of about 35 USD/ounce compared to the previous session. This is a very strong increase in the price of gold in recent days.

According to analysts, the precious metal surpassing the psychological mark of 3,400 USD/ounce has stimulated demand for gold from the market, especially in the context that the US Federal Reserve (FED) is expected to cut interest rates from early September. Rising inflation in the US is also a concern for investors, making gold a safe haven.

Converted according to the exchange rate listed at Vietcombank , the world gold price is equivalent to about 109 million VND/tael, nearly 20 million VND/tael lower than SJC gold bars.

Source: https://nld.com.vn/tiem-vang-nho-day-gia-vang-mieng-sjc-vuot-130-trieu-dong-luong-196250829084054132.htm