SJC gold bar price increases sharply, reaching a peak of 125 million VND/tael

SJC gold bar price increases sharply

Recorded at 9:21 a.m. on August 14, the price of SJC gold bars was listed by a number of units such as Bao Tin Minh Chau and DOJI Group at 123.5-124.7 million VND/tael (buy in - sell out), an increase of 800,000 VND/tael in both directions compared to a day ago. The difference between buying and selling prices is at 1.2 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 122.7-124.7 million VND/tael (buy - sell), an increase of 800,000 VND/tael in both directions. The difference between buying and selling prices is at 2 million VND/tael.

Saigon Jewelry Company SJC listed the price of SJC gold bars at 123.7-124.7 million VND/tael (buy - sell), the difference between buying and selling prices is at 1 million VND/tael.

The price of gold bars this morning is quite strong compared to the fluctuations in world gold prices and the price of plain round gold rings. Over the past day, world gold has increased by only 17.2 USD, listed around 3,366.7 USD/ounce at 9:05 am.

Meanwhile, domestic gold rings only increased by about 300,000 to 500,000 VND/tael.

As of 9:00 a.m., DOJI Group listed the price of gold rings at 116.8-119 1.8 million VND/tael (buy - sell), an increase of 300,000 for buying and unchanged for selling compared to a day ago. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 117.5-120.5 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 116.8-119 1.8 million VND/tael (buy in - sell out), an increase of 300,000 VND/tael in both directions. The difference between buying and selling is 3 million VND/tael.

Is buying gold bars less risky than buying gold rings?

Observing the price list this morning shows that the difference between buying and selling of SJC gold bars ranges from 1 million to 1.2 million VND/tael, depending on the trading unit. Meanwhile, gold rings have a fixed difference of about 3 million VND/tael.

The higher the difference, the more investors need prices to increase more strongly to be able to break even or make a profit. For gold rings, the difference of 3 million VND/tael means that if bought and sold immediately, buyers can immediately lose 3 million VND/tael. In contrast, SJC gold bars with lower differences help reduce this risk, especially during the period when prices fluctuate strongly but do not increase dramatically.

Therefore, considering the factor of capital safety in the short term, SJC gold bars are often less risky than gold rings, especially for investors who do not want to be pressured to wait for prices to increase too high to make up for the difference.

Although the difference in SJC gold bars is lower, investors also need to be cautious about the psychology of buying gold when prices increase sharply. Buying in large numbers can easily increase the risk of "peaking", especially if prices reverse to correct in the short term.