This morning (8.25), domestic gold prices continued to be adjusted by businesses to increase from VND100,000 to VND300,000/tael. Combined with a strong increase last weekend, SJC gold bars are anchored at an all-time high.
As of 9:00 a.m., the price of SJC gold bars was listed by a number of units such as Bao Tin Minh Chau and DOJI Group at VND125.9-126.9 million/tael (buy in - sell out). Phu Quy Jewelry Group listed the price of SJC gold bars at 124.9-126.9 million VND/tael (buy in - sell out).
At the same time, DOJI Group listed the price of gold rings at 118.8-121.8 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael. Bao Tin Minh Chau listed the price of gold rings at 119-122 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.
Meanwhile, Phu Quy Gold and Stone Group listed the price of gold rings at 118.5-121.5 million VND/tael (buy in - sell out). The difference between buying and selling is 3 million VND/tael.
The domestic gold price increase this morning went hand in hand with the world. The world gold market increased sharply last weekend, but there was a slight downward trend early this morning.
At 9:00 a.m. on August 25, the world gold price was listed around 3,360.7 USD/ounce, down 9.6 USD compared to the previous session.
Converted at Vietcombank exchange rate (26,480 VND/USD), each ounce of world gold is equivalent to about 107.3 million VND/tael.
This price is currently more than 19 million VND/tael lower than domestic SJC gold bars, reflecting a huge difference. This gap not only shows that the domestic gold market is anchored at a record high, but also poses many risks to investors if there is a strong correction in the coming time.
Below are details of gold prices on the websites of some jewelry brands on the morning of September 25:
See more news related to gold prices HERE...
