(NLDO) – The price of gold rings is predicted to reach 95 million VND/tael if the world price exceeds 3,000 USD/ounce, while SJC gold bars are different.
On March 10, the price of SJC gold bars was simultaneously listed by SJC, PNJ, DOJI, Bao Tin Minh Chau, and Phu Quy companies at a new high, buying at 91.1 million VND/tael, selling at 93.1 million VND/tael, an increase of 200,000 VND/tael compared to the end of last week.
This is the third time this year that the price of SJC gold bars has returned to its all-time high of VND93.1 million/tael.
Similarly, the price of 99.99 gold rings and jewelry gold also continued to increase when SJC Company adjusted the price up to 91.1 million VND/tael for buying and 93 million VND/tael for selling, an increase of 200,000 VND/tael.
PNJ Company bought gold rings for 91.7 million VND/tael, sold for 93.2 million VND/tael; Bao Tin Minh Chau sold for up to 93.3 million VND/tael...
Before the hot increase in gold prices, a reporter from Nguoi Lao Dong Newspaper discussed with economic expert, Dr. Nguyen Tri Hieu, about his latest forecasts on the prices of SJC gold bars and gold rings.
- Reporter: Domestic gold prices fluctuate according to the world price, but the price of gold rings follows more closely than that of SJC gold bars. What is your assessment of this development?
+ Dr. Nguyen Tri Hieu : There are many factors supporting the sharp increase in world gold prices in recent days, from US President Donald Trump's tariff policy; the increasing demand for gold from central banks of countries to inflationary pressure in the US.
World gold prices have increased by about 11% since the beginning of the year. Whether gold prices will reach the $3,000/ounce mark or not remains a mystery, but domestic gold prices have also increased sharply.
In my opinion, if the world gold price hits 3,000 USD/ounce, the price of gold rings can increase to 95 million VND/tael, but SJC gold bars are different. Because the price of SJC gold bars is still under the control and stabilization of the gold market of the State Bank, it is difficult for there to be too strong fluctuations.
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- But gold rings are different?
+ That's right! The current price of gold rings is listed by businesses to buy and sell according to market supply and demand, according to world prices and is not subject to price stabilization control by the State Bank.
There are two factors that are pushing up the price of gold: the impact of the world gold price creating excitement and expectation of investors in Vietnam. The second factor that plays a very important role is the very limited supply of gold. When the supply of gold is squeezed, the higher demand will push the price up.
The price of SJC gold bars once again reached the historical peak of 93.1 million VND/tael last week.
- The price of gold rings has increased, but until now the situation of "buying anywhere and selling anywhere" of gold rings still exists, causing risks for people buying and selling gold?
+ This reality has been happening for a long time. For major gold brands such as SJC, PNJ, Bao Tin Minh Chau, DOJI or Phu Quy and other gold brands, people who buy 99.99 gold rings or gold jewelry still mainly "buy where and sell there".
This situation exists because the brands are not connected like SJC gold bars - the national gold brand. This also contributes to the scarcity, so there needs to be a solution and mechanism for the gold ring market to be connected between brands; creating conditions for people to be able to buy gold rings and sell them anywhere, as long as they meet the standards, the gold quality is 99.99...
When the situation of "buying everywhere and selling everywhere" 99.99 gold rings and jewelry gold no longer exists, it will help reduce scarcity and limit price hikes and price manipulation by some gold brands.
Thank you!
Source: https://nld.com.vn/chuyen-gia-nguyen-tri-hieu-du-bao-gi-khi-gia-vang-vuot-93-trieu-dong-luong-196250309151540072.htm
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