During the session last night on the US market, the spot gold price once reached an all-time high, $ 2,069.21 / ounce (up 0.8%), then ended the session at $ 2,055.87 / ounce; gold term in December 2020 increased by 1% to 2,069.4 USD / ounce.
Following the US, in the Asian market this morning (August 7), gold prices are popularly traded at $ 2,067 / ounce.
In Vietnam, as soon as the transaction was opened on the morning of August 7, businesses and commercial banks simultaneously listed the price of SJC gold bars above the 62 million dong / tael.
At 9 o’clock, Saigon Jewelry Company (SJC) listed the price of gold bars to buy 60.6 million dong / tael, sell 62.23 million dong / tael, an increase of about 1 million dong per tael compared to late yesterday.
At major gold stores such as Mi Hong, Phu Quy, Ngoc Hai, PNJ SJC gold bars are sold from 62-62.3 million dong per tael. While the buying price has a large difference, ranging from 60-61 million / tael depending on the needs of each unit.
Only DOJI Group traded gold bars SJC bought 60 million dong / tael and sold 61.8 million dong / tael.
At commercial banks, SJC gold bar price is listed around 61 million dong / volume bought, 62 million dong / selling volume.
SJC gold bars are believed to be scarce compared to other types of gold and jewelry rings.
In the past 3 days, the price of SJC gold bars has increased “wildly” from 57.7 million VND / tael to over 62.2 million VND / tael, or nearly 4.5 million VND / tael compared to the previous one. .
Meanwhile, the price of gold rings, 24K gold jewelry of all kinds is traded at a much lower rate than SJC gold bars, currently popular at 56.15 million VND / volume purchased, 57.15 million VND / tael sold out, up to 5 million / tael lower.
Why does the price of SJC gold bars increase abnormally and are too high compared with the world gold price, the price of 24K gold jewelry of all kinds? Even the world gold price converted at the listed exchange rate this morning is about 58 million dong / tael, higher than the price of gold jewelry and 24K gold rings, reflecting the domestic market without sudden demand for gold. Only scarcity of SJC gold bars.
Deputy general director of a joint stock commercial bank in Ho Chi Minh City said the market had no sudden change in transaction volume. However, due to the scarce supply of SJC gold bars, the price of SJC gold bars was pushed up to a high level.
In this context, some experts perceive that investors and people want to hoard as a safe haven, not necessarily buy SJC gold bars but can choose other types of gold.
“Many other businesses also have their own brand of gold bars, then 24K plain gold rings Currently these types of gold are traded at around 57.1 million VND / tael (sold out), quite balanced with world prices, even lower “- the deputy general manager of the bank analyzed.
On the foreign exchange market, the USD price at commercial banks remained unchanged compared to yesterday, around 23,090 VND / USD bought in, 23,270 VND / USD sold.