SJC gold bar price hits historic peak, should we buy now?

On August 9, the price of SJC gold bars was listed by companies at VND123.2 million/tael for purchase and VND124.4 million/tael for sale, an increase of VND500,000/tael compared to yesterday. In just about a week, the price of gold bars has rapidly increased by VND3 million/tael, far surpassing the record of VND124 million in April 2025. Many people expect the price of gold to continue to increase as the world price has not yet reached its peak and the domestic gold supply is still scarce.

However, speaking with a reporter from Nguoi Lao Dong Newspaper, gold expert Tran Duy Phuong said that gold still has risks in the coming time.

SJC gold bar price far exceeds world gold price

* Reporter: What is the factor that makes domestic gold price continuously increase, break old peak, set new peak far surpassing the 124 million VND/tael area?

- Gold expert Tran Duy Phuong : The price of SJC gold bars has surpassed 124 million VND/tael, but the world gold price is still hovering around below 3,400 USD/ounce, which is much lower than the peak of 3,500 USD/ounce set in April. This means that the price of gold bars is increasing faster than the world price.

The price of SJC gold bars has jumped mainly due to supply. Not only is supply scarce, many people still prefer to buy SJC brand gold, further pushing the price of gold up.

The price of SJC gold bars is about 4 million VND higher than the price of plain gold rings of all kinds (both are 99.99 gold).

The State Bank has yet to have any specific policies or new mechanisms to contribute to increasing gold supply.

In the near future, if the management agency has a solution to increase the gold supply for the market through specific policies, the gold price may cool down. Because the price of SJC gold bars is currently 16 million VND/tael higher than the world price.

Why shouldn't you buy SJC gold bars now?

* In fact, the current gold market size is not large. If the market has more gold bar supply, will the price of SJC gold plummet?

- The demand for SJC gold from people and investors is quite high, although the scale is not large. Also because the scale is not large, when people prefer SJC gold bars and demand is greater than supply, it will push the price up.

On the contrary, the risk is that in case of a new gold policy of the State Bank to narrow the gap with world prices, the price of SJC gold bars will decrease sharply. As for other types of gold such as jewelry gold, plain gold rings of all kinds, the price will fluctuate closer to the world price.

And at present, you should not buy SJC gold bars. Because the Government and the State Bank are taking drastic actions to issue policies with the aim of reducing the gap between domestic gold prices and world gold prices. When the policy is completed, the price of SJC gold bars will decrease.

At the same time, the world gold price is approaching a fairly high level, so the trend may decline again. If buying gold, investors can buy gold rings to reduce the risk of price difference with the world.

Source: https://nld.com.vn/gia-vang-mieng-sjc-vuot-dinh-lich-su-vi-sao-chuyen-gia-noi-khong-nen-mua-vao-luc-nay-196250809162637985.htm