The gold market is witnessing a very large gap between domestic gold prices and world gold prices. In the context of strong fluctuations in international gold prices, the selling price of many domestic enterprises is still hovering at a higher level from about 29 million to over 31 million VND per tael.
At 4:55 PM, the world gold price was at 4,541.8 USD/ounce. Converted according to Vietcombank's USD selling exchange rate of 26,364 VND/USD, the world gold price is equivalent to about 144.4 million VND/tael.
Compared to this conversion level, domestic gold prices continue to maintain a very large gap.
At Bao Tin Minh Chau, at 4:15 PM, SJC gold bars were listed at 172 - 175 million VND/tael. Compared to the converted world gold price, the selling price of SJC gold here is about 30.6 million VND/tael higher. For gold rings, businesses list at 172.5 - 175.5 million VND/tael, corresponding to a selling price higher than the world price by about 31.1 million VND/tael.
At DOJI, SJC gold bars are traded at 170.5 - 173.5 million VND/tael. According to the selling price, SJC gold of this enterprise is currently about 29.1 million VND/tael higher than the converted world gold price. The ring gold price at DOJI is also at 170.5 - 173.5 million VND/tael, which is about 29.1 million VND/tael higher than the world price.
Similarly, Phu Quy listed SJC gold bars at 170.5 - 173.5 million VND/tael, and gold rings also in the 170.5 - 173.5 million VND/tael range. With this price level, the selling price at Phu Quy is currently higher than the converted world gold price by about 29.1 million VND/tael.
Thus, according to the selling price, domestic gold is currently higher than the converted world gold price from about 29.1 million VND/tael to about 31.1 million VND/tael. In the survey group, Bao Tin Minh Chau gold rings have the highest difference, while DOJI and Phu Quy have lower differences but still maintain above the threshold of 29 million VND/tael.
The large difference between domestic and world gold prices continues to reflect the difference in supply and demand, brand, holding sentiment and domestic market factors. However, when the gap is pushed too high, the risk for buyers also increases significantly.
If world gold prices adjust or domestic differences narrow, investors buying at high prices may face the risk of short-term losses, especially with surfing activities.
In addition, experts have also repeatedly warned about the risks when the buying - selling price difference in the country is too high. Talking to Lao Dong Newspaper, Dr. Nguyen Tri Hieu said that the "ideal" difference is only around 300,000 VND/tael; when the gap is stretched too strongly, buyers will face great risks if world prices reverse or domestic prices adjust to narrow the difference.
He also recommended that investors should not surf gold waves during a period of strong fluctuations, because buying at too high prices can lead to heavy losses in the short term.
