SJC gold bar price increases sharply despite general trend

Early this morning, despite the downward trend of world gold prices and domestic plain gold ring prices, SJC gold bar prices were adjusted up by 1 million VND/tael by trading units.

As of 11:00 a.m., the price of SJC gold bars was listed by DOJI Group at 83 - 85 million VND/tael (buy - sell).

Compared to the previous trading session, gold price at DOJI increased by 1 million VND/tael for both buying and selling. The difference between buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.

At the same time, Bao Tin Minh Chau listed the price of SJC gold at 83 - 85 million VND/tael (buy - sell). Compared to the beginning of the previous trading session, the gold price at Bao Tin Minh Chau increased by 1 million VND/tael for both buying and selling. The difference between the buying and selling prices of SJC gold at Bao Tin Minh Chau is at 2 million VND/tael.

The price of SJC gold bars increased, despite the general downward trend of the world gold market and the domestic plain round gold ring segment. According to some experts, the price movement of SJC gold is easy to explain because for many weeks, this segment has not fluctuated in the same direction as the world.

Talking to Lao Dong reporter, Dr. Nguyen Tri Hieu - economic expert - said that the gold bar market is being controlled so the price cannot be adjusted flexibly according to the world market like the round gold ring.

"The Vietnamese market currently has two segments that investors are interested in, including SJC gold bars and 9999 smooth round gold rings. The gold bar market is being squeezed, the bubble in the gold market is expanding in gold rings" - Dr. Nguyen Tri Hieu said.

Although not flexibly adjusted each session according to world market developments, looking back at the past two months, it can be seen that the price of SJC gold is still adjusted to the same level as the price of plain gold rings.

From the trading session on August 8 to now (August 10), the price of 9999 round gold rings at DOJI Gold and Gemstone Group increased by VND6.7 million/tael for buying and VND6.35 million/tael for selling. At the same time, the price of SJC gold bars at this unit increased by VND6.5 million/tael for both buying and selling.

However, the reality in the current market is that it is very difficult to buy SJC gold bars. According to Lao Dong reporters, in many recent trading sessions, business brands have hardly sold gold bars, only selling a small amount of plain gold rings during irregular hours.