As of March 18, the price of SJC gold bars was listed by many units at VND95.4 - 96.9 million/tael (buy - sell), unchanged in both directions. The difference between buying and selling prices is about 1 million VND/tael.
This is an unprecedented record in the history of gold prices in Vietnam and is predicted to not stop.
Taking the time frame of March 18, below is a comparison table of gold prices (SJC) in Vietnam and world gold prices over the years. In which, the gold price is calculated by the average price between buying and selling.
Because 1 ounce = 0.82945 VND, the conversion price is applied according to the formula: World price after conversion = World gold price/0.82945 x USD/VND exchange rate.
(This price does not include taxes and fees such as import, transportation, insurance, etc.)
From the comparison table and the drawn chart, it can be seen that the world gold price and the Vietnam gold price have a similar growth rate.
Compared to March 2021, Vietnamese gold holders are making a profit of about 101.18%.
Based on current market developments and supporting factors, analysts predict that world gold prices will continue to increase, possibly ranging from 3,330 to 3,400 USD/ounce by the end of the fourth quarter of 2025.
That means the price of Vietnamese gold may exceed 100 million VND/tael.
