At 4:00 p.m. on April 10, 2024, affected by fluctuations in the world market, domestic gold prices have not stopped increasing, continuously setting new peaks.
Saigon Jewelry Company Limited - SJC listed the afternoon buying price of SJC gold at 82.4 million VND/tael and the selling price at 84.4 million VND/tael. Compared to the early morning of the same day, the SJC gold price at this unit was adjusted up 2 million VND/tael for buying and up 1.98 million VND/tael for selling.
The difference in the purchase price of SJC gold at this unit is currently at 2 million VND/tael.
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| Gold price listed at Saigon Jewelry Company Limited - SJC (Screenshot at 4:00 p.m. on April 10, 2024) |
At the same time, Bao Tin Minh Chau listed the price of SJC gold at 82.5 million VND/tael for buying and 84.4 million VND/tael for selling. Compared to the early morning of the same day, the price of SJC gold at this unit was adjusted up 2.4 million VND/tael for buying and up 2.25 million VND/tael for selling.
The difference in buying and selling price of SJC gold bars at Bao Tin Minh Chau brand is at 1.9 million VND/tael.
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| Gold price listed at Bao Tin Minh Chau. Screenshot at 4:00 p.m. on April 10, 2024 |
Domestic gold prices have been climbing along with the rising trend of world gold prices, but SJC gold bars have been increasing at a much slower rate than 9999 gold rings. The price of 9999 gold rings today also set a new record. DOJI brand increased the selling price of 9999 gold rings to 78.5 million VND/tael, buying at 76.7 million VND/tael. Compared to yesterday afternoon, the selling price of gold rings at DOJI has increased by 3.1 million VND/tael, while the buying price has increased by 2.8 million VND/tael.
Similarly, the 9999 gold ring brand of Bao Tin Minh Chau Company is also listed at 76.78 - 78.38 million VND/tael for buying and selling. Compared to yesterday, the price of this brand of gold ring increased by 3.12 million VND/tael for buying and increased by 3.18 million VND/tael for selling.
Analyzing the reasons for the sharp increase in domestic gold prices in recent days, especially for plain round gold rings, an economic expert said it was due to people's concerns about changes in management and production policies for this exclusive product.
"The price of SJC gold, especially the price of plain round rings, continuously sets new peaks partly due to the impact of world gold prices and psychological factors" - According to Associate Professor, Dr. Dinh Trong Thinh, investors and people still expect the price of gold to continue to increase.
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| In the context of high gold prices, the number of customers coming to buy is still greater than the number of customers coming to sell (Illustration photo) |
Faced with the sharp increase in gold prices, some experts recommend that people should not chase the peak. With gold prices rising like a storm, state management agencies may intervene to regulate, causing gold prices to reverse.
Meanwhile, some other experts said that the gold market is shifting to gold rings because buyers are concerned about the high price of SJC gold bars. However, in the past one or two days, the gold ring market has not had enough raw materials, so it has fallen into a state of scarcity even though it is not an exclusive brand, leading to it becoming more and more expensive.
According to some forecasts by foreign experts, the international price of precious metals could reach 2,500 - 2,600 USD/ounce, at which time ring gold could also reach 77 - 78 million VND/tael.
In the context of high gold prices, according to records at gold trading establishments, the number of customers coming to buy is still greater than the number of customers coming to sell. Ms. Tran Thuy (Hai Ba Trung, Hanoi) said, following the forecasts about gold, I see the momentum of increasing prices more than decreasing, so I kept gold until today. Today, although the gold price is very high, I still continue to buy in the hope that the gold price will continue to increase.
Also according to statistics from Bao Tin Minh Chau, today the number of customers coming to buy and sell gold is 55% customers coming to buy and 45% customers coming to sell.
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