Each SJC gold bar increased by one million dong this morning to 86 million dong, the highest in the past four months, while plain gold rings also set a record of 84 million dong.
This is the highest price for gold bars in the past four months, since the State Bank of Vietnam intervened in the policy of "pricing" gold bars (although it is still lower than the historical peak of 6.4 million VND).
Compared to the beginning of June, the price of gold bars has increased by approximately 6 million VND per tael, equivalent to a 7.5% increase, lower than the over 11% increase in the price of plain gold rings. At the same time, the difference between the buying and selling price of SJC gold bars remains around 2 million VND per tael, significantly higher than that of plain gold rings.
This morning, gold price Rings at major brands also increased by several hundred thousand dong per tael compared to yesterday and set new records, reaching 84 million dong in some places.
At SJC, plain gold rings are priced at 82.4 - 83.7 million VND, an increase of 400,000 VND per tael. DOJI and Bao Tin Minh Chau list prices at 83.2 - 84.1 million VND. PNJ's price is 83 - 84 million VND per tael. The difference between buying and selling prices among brands is currently 1-1.5 million VND per tael.
On the international market, each ounce of gold is trading around $2,667, equivalent to 80.8 million VND per tael (approximately 37.5 grams) at the Vietcombank selling exchange rate. Domestic gold prices are 3-5 million VND per tael higher than world prices.
Recently, actual gold transactions have been negligible, due to quantity restrictions on the purchase of gold bars and plain gold rings. Registering to buy gold bars at the 5 authorized units of the State Bank of Vietnam is not easy, time-consuming, and the maximum quantity is only 1-2 taels. Plain gold rings from major brands are also frequently in short supply.
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