SJC gold price sharply decreases after 3 months
On September 15, domestic gold prices fell sharply compared to 3 months ago. Calculated according to the current buying price of businesses, gold buyers on June 15 and sellers at the present time are recording large losses, although world gold prices are still maintained at a high level.
On June 15, SJC gold bar prices were listed by DOJI at the buying price of 147 million VND/tael, the selling price of 149.5 million VND/tael. By September 15, the buying price decreased to 142.3 million VND/tael, and the selling price was 145.3 million VND/tael. Thus, the buying price decreased by 4.7 million VND/tael, the selling price decreased by 4.2 million VND/tael. Gold buyers at the time of June 15 are currently losing about 7.2 million VND/tael.
At Bao Tin Minh Chau, the buying price of SJC gold bars decreased from 146.5 million VND/tael to 142.5 million VND/tael, down 4 million VND/tael. The selling price decreased from 149.5 million VND/tael to 146.5 million VND/tael, down 3 million VND/tael. Gold buyers after 3 months are suffering a loss of about 7 million VND/tael.
Meanwhile, in Phu Quy, the buying price of SJC gold bars decreased from 148 million VND/tael to 142.3 million VND/tael, down 5.7 million VND/tael. The selling price decreased from 150.5 million VND/tael to 145.3 million VND/tael, down 5.2 million VND/tael. The loss of gold buyers at the time of mid-June was about 8.2 million VND/tael.
9999 gold rings also cause buyers to suffer heavy losses
Not only SJC gold bars, people who bought 9999 gold rings 3 months ago are also experiencing a significant decrease.
At DOJI, the buying price of 9999 gold rings decreased from 147 million VND/tael to 142.5 million VND/tael, down 4.5 million VND/tael. The selling price decreased from 149.5 million VND/tael to 146.5 million VND/tael, down 3 million VND/tael. Gold buyers at the time of June 15 are currently losing about 7 million VND/tael.
At Bao Tin Minh Chau, the buying price decreased from 146.5 million VND/tael to 142.5 million VND/tael, down 4 million VND/tael. The selling price decreased from 149.5 million VND/tael to 146.5 million VND/tael, down 3 million VND/tael. The loss of buyers after 3 months is also about 7 million VND/tael.
Phu Quy recorded a stronger decrease when the buying price of 9999 gold rings decreased from 147.5 million VND/tael to 142.3 million VND/tael, down 5.2 million VND/tael. The selling price decreased from 150.5 million VND/tael to 145.7 million VND/tael, down 4.8 million VND/tael. Gold buyers in mid-June are currently losing about 8.2 million VND/tael.
Compared to 3 months ago, the world gold price is currently at 4,320.1 USD/ounce, equivalent to the recorded level on June 15. However, domestic developments are affected not only by international prices but also by the difference between buying and selling prices of businesses.
Notably, the gold buying - selling gap is still high, commonly from 3-4 million VND/tael. This makes buyers suffer losses immediately when trading if gold prices do not increase strongly enough to compensate for the difference.
In the context that world gold prices are under adjustment pressure due to global economic factors, the domestic market may continue to fluctuate strongly. People need to be cautious, avoiding the FOMO (FOM) mentality when gold prices rise sharply, because buying in high price areas while the buy-sell difference is large can increase the risk of losses if the market reverses direction.
The article only updates the developments of the gold market and factors affecting the price of precious metals, not investment recommendations.
