Why did the price of SJC gold bars suddenly narrow the gap with the world?

(NLDO) – Domestic gold prices have jumped to nearly 120 million VND/tael following the increase in world prices.

On the morning of June 21, the domestic gold market increased again with both SJC gold bars and gold rings.

According to updates from gold trading businesses, the price of SJC gold bars is listed at 117.7 million VND/tael for buying and 119.7 million VND/tael for selling, an increase of 300,000 VND per tael compared to yesterday morning.

The price of 99.99 gold rings and jewelry gold also increased by 200,000 VND to 113.7 million VND/tael for buying and 116.2 million VND/tael for selling.

While the price of gold rings is trading at its lowest price in nearly a month, SJC gold bars fluctuate in a narrower range around 119-120 million VND/tael.

Domestic gold prices rose again as the precious metal on the international market closed the trading week at 3,369 USD/ounce, up more than ten USD/ounce compared to the previous session.

According to experts, in addition to being affected by world prices, domestic gold prices have recently been affected by gold management policies of the Government and the State Bank.

SJC gold bar price narrows gap with world price, although still high

In the latest update report on the gold market, experts from Dragon Capital Securities Company (VDSC) commented that the gold market in the first half of 2025 witnessed many notable fluctuations. Gold prices continuously set peaks at certain times, while the gap between domestic and world gold prices tended to widen.

Gold prices in Vietnam have increased rapidly and are significantly higher than world gold prices. Notably, since mid-April 2025, the gap between the two markets has skyrocketed from 4% to 8% - 11% in just two days and lasted until near the end of May before showing signs of narrowing again.

As of now, the world gold price converted according to the listed exchange rate is around 107 million VND/tael, lower than the price of SJC gold bars by more than 12 million VND/tael. This gap has narrowed compared to the previous record of 18 - 20 million VND/tael.

According to VDSC, the market is recording positive signals as the gap between domestic gold prices, especially SJC gold bars, and world gold prices tends to decrease. This development is believed to come from new proposals on gold market management made by the Government at the end of May.

These proposals are strategic, focused and long-term, representing a change in thinking and approach, aimed at tightly controlling the gold market, limiting speculation and returning gold to its proper role as a financial asset.

Although the gap between domestic and world gold prices has only narrowed in a short time, VDSC experts said this is a positive sign showing that the initial impact of management policies is taking effect.

Source: https://nld.com.vn/vi-sao-gia-vang-mieng-sjc-bat-ngo-thu-hep-chenh-lech-voi-the-gioi-196250621100054419.htm