SJC gold bar price hits a surprising peak on the free market

On the morning of August 16, the price of SJC gold bars was kept unchanged by gold companies at 123.5 million VND/tael for buying and 124.5 million VND/tael for selling, stable compared to yesterday.

Gold bar prices at major gold companies have remained unchanged over the past two days, after leaving the peak of VND124.7 million/tael.

However, a notable development in the free market was when some gold shops listed the price of SJC gold bars at 124.2 million VND/tael for buying and 125.2 million VND/tael for selling, up to 800,000 VND higher than at large enterprises.

This is also a record high for domestic gold prices, and for the first time exceeded the 125 million VND/tael mark.

Meanwhile, the price of 99.99% gold rings and jewelry gold also stabilized around VND116.6 million/tael for buying and VND119.1 million/tael for selling.

The price difference between SJC gold and the world is huge.

Domestic gold prices remain at a sky-high level, explained by companies due to scarce supply and high demand for gold purchases and holdings. The market has few sellers and many buyers in a context of shrinking scale, keeping gold prices high.

In the international market, the price of gold closed the trading week at 3,337 USD/ounce, not much changed compared to the previous day. However, the downward trend of world gold prices has been going on for many days, after leaving the 3,400 USD/ounce zone last week.

In about a week, the world gold price lost nearly 70 USD/ounce (equivalent to about 2.2 million VND); while the price of SJC gold bars is still at its peak, exceeding 124 million VND/tael.

This development caused the gap to widen, with the price of gold bars being 18 million VND/tael higher than the world price.

Source: https://nld.com.vn/sang-16-8-nhieu-tiem-vang-nho-day-gia-vang-mieng-sjc-len-cao-ky-luc-196250816090753048.htm