The price of SJC gold bars sold at banks today increased to 80 million VND/tael - Photo: QUANG DINH
SJC gold bar price increased to 80 million VND/tael
Nearly two and a half months since the State Bank sold gold to people through four state-owned commercial banks and SJC Company, gold prices are having strange developments.
Today, August 13, the State Bank raised the gold selling price by 1.5 million VND/tael compared to yesterday, to 80 million VND/tael due to the strong increase in world gold prices.
At one point, the world gold price reached 2,470 USD/ounce before slightly decreasing to 2,460 USD/ounce this afternoon.
Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 75.31 million VND/tael.
Today, four banks in the Big4 group also raised the gold selling price to 80 million VND/tael. Meanwhile, SJC Company raised the gold buying price to 78 million VND/tael and selling price to 80 million VND/tael.
Compared to the converted world gold price, the price of SJC gold bars is 4.69 million VND/tael higher. Meanwhile, the price of gold rings of other brands is close to the threshold of 78 million VND/tael.
At SJC Company, the selling price of 9999 gold rings is 77.9 million VND/tael, buying price is 76.6 million VND/tael, an increase of 300,000 VND/tael in both selling and buying prices.
Bao Tin Minh Chau Company also increased the selling price of 9999 gold rings to 77.88 million VND/tael, buying price to 76.68 million VND/tael, an increase of 300,000 VND/tael compared to yesterday.
Meanwhile, DOJI Company listed the buying and selling price of gold rings at 76.7 - 77.9 million VND/tael.
Compared to the converted world gold price, the selling price of 9999 gold rings is about 2.59 million VND/tael higher.
End of the golden surf
On groups today, many people announced leaving the game - Screenshot
Today, a strange development in the gold market is that the selling price of SJC gold bars at banks increased by 1.5 million VND/tael, but the price of SJC gold bars on the free market continuously fell.
In the past few days, when the gold price sold at banks was 78.5 million VND/tael, the price of SJC gold bars sold on the free market was about 80.5 million VND/tael, a difference of about 2 million VND/tael.
Today, although the selling price of gold at banks increased sharply, the selling price of SJC gold bars on the free market fell from 80.75 million VND/tael to 80.43 million VND/tael. Notably, the buying price was only 79.83 million VND/tael.
This factor has caused many buyers and resellers to "crash". According to records, on groups specializing in "hunting" for SJC gold bars to buy and then resell, today there is a stir and many people have announced to leave the game because at the current price it is very difficult to buy and resell.
The number of people who want to hunt for gold is also much lower because if they buy gold from banks and resell it on the open market, they will lose money. That is not to mention the cost of hunting for gold.
In addition, banks have recently changed the time of gold delivery to customers. Accordingly, instead of delivering within the day as before, banks deliver 2 days after the buyer registers to buy and successfully pays.
Therefore, the risk increases if the gold price fluctuates strongly. This also reduces the attractiveness of gold.
Please read the updated gold price developments HERE.
Previously, since the State Bank sold SJC gold bars through four state-owned commercial banks and SJC Company, the price of SJC gold bars on the free market has always maintained a fairly high difference compared to the official selling price. At times, the difference was up to 5-6 million VND/tael, the lowest being about 2 million VND/tael.
The price difference is high while the supply is limited, so there is a situation of lining up to buy gold and then hunting for gold buying spots. The price of each spot is up to 500,000 VND - 1 million VND/tael.
After that, when the difference between the gold price sold at banks and the free market gradually decreased, the price of gold buying quotas was only 200,000 - 300,000 VND/tael. This afternoon, it was recorded that someone was selling gold buying quotas for only 80,000 - 150,000 VND/tael because the demand for gold hunting to sell the difference was no longer there.
Meanwhile, people holding gold are selling it at 80 million VND/tael, the same price as banks are selling it for, because they are worried that the price will drop further tomorrow.
Source: https://tuoitre.vn/gia-vang-mieng-sjc-tai-thi-truong-tu-do-rot-manh-nguoi-mua-di-ban-lai-nhao-nhao-20240813211352233.htm
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