Gold price towards record level of 2,787.1 USD/ounce

After 5 consecutive sessions of increase, the world gold price has increased by about 162 USD/ounce, equivalent to 4.98 million VND/tael.

World gold prices increased again after evaporating 227.8 USD/ounce from the peak just one week after the US presidential election results.

In previous US presidential elections, world gold prices often fell sharply and lasted for quite a long time. However, in this election, after falling sharply, world gold prices recovered very quickly and are only a short distance from the old peak of 70.2 USD/ounce.

The recovery of world gold prices has caused domestic gold prices to increase rapidly in recent days.

SJC Company listed the price of gold bars at 87 million VND/tael, the buying price at 85 million VND/tael. Compared to a week ago, the price of SJC gold bars has increased by 3.5 million VND/tael for selling and by 5 million VND/tael for buying.

Meanwhile, the selling price of 9999 gold rings at SJC Company has increased by 4.1 million VND/tael in the past week. The buying price of 9999 gold rings has increased by 5.2 million VND/tael, to 85 million VND/tael.

Currently, the buying price of gold rings and gold bars are equal, while the selling price of gold rings is only 500,000 VND/tael lower than the price of gold bars.

Will SJC gold bar price return to 90 million VND/tael?

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 83.6 million VND/tael.

With the recent recovery rate, domestic and international gold prices have almost recovered what they had lost before. The selling price of gold bars is only 3 million VND/tael lower than before the election, while the price of 9999 gold rings is 2.5 million VND/tael lower than the peak.

The difference between buying and selling prices of gold has narrowed to 1 million VND/tael for gold rings and 2 million VND/tael for SJC gold bars.

At Bao Tin Minh Chau Company, the selling price of gold rings today is 86.58 million VND/tael, buying price is 85.63 million VND/tael.

DOJI Company also increased the selling price of 9999 gold rings to 86.6 million VND/tael, the buying price is at 85.6 million VND/tael.

Compared to the converted world gold price, the price of SJC gold bars is 3.4 million VND/tael higher, while the price of gold rings is 2.9 million VND/tael higher.

Please read the updated domestic gold price developments HERE.