Just this afternoon, September 26, the world gold price caused a stir when it set an all-time record twice and reached 2,684 USD/ounce at 7:00 p.m.
Gold prices increase dramatically
Development gold price The world gold price in recent days has surprised investors with its continuous increase, although many previous forecasts said that the gold price would have to adjust because it had increased too much.
At the current price, converted according to the listed exchange rate at the bank, the world gold price is equivalent to 80.25 million VND/tael.
Before the development of world gold prices, domestic gold prices also increased sharply at the end of today, especially in the free market.
While banks and gold companies still listed the selling price of SJC gold bars at VND83.5 million/tael, the same as two days ago, in the free market, the gold price was pushed up to VND86.2 million/tael, VND2.7 million/tael higher than the selling price of gold at SJC Company and banks in the Big4 group. The buying price also jumped to VND85.5 million/tael.
The price of 9999 gold rings also increased rapidly.
SJC Company increased the selling price of 9999 gold rings to 82.7 million VND/tael, an increase of 400,000 VND/tael compared to yesterday. The buying price increased by 500,000 VND/tael, to 81.3 million VND/tael.
At Bao Tin Minh Chau Company, the selling price of gold rings increased sharply, to 83.33 million VND/tael, an increase of 550,000 VND/tael compared to yesterday. The buying price also increased accordingly, to 82.23 million VND/tael.
DOJI increased the selling price of 9999 gold rings to 83.35 million VND/tael, an increase of 550,000 VND/tael compared to yesterday. The buying price increased to 82.5 million VND/tael.
In the free market, the price of gold rings jumped wildly this afternoon. Some places sold it at 83.2 million VND/tael, but some places jumped to over 84 million VND/tael.
Gold buying power returns
Talk to Tuoi Tre Online , expert Tran Duy Phuong said that the new development in the gold market in recent days is that the price has increased, but at the same time, the buying power has also increased.
"Recently, there have been many predictions that the world gold price will soon reach 2,800 - 3,000 USD/ounce, thus activating the gold buying force again. Especially gold rings. However, due to the scarce supply, the price of gold rings has been pushed up higher and higher," said Mr. Phuong.
According to research, the reason why gold rings are popular is because the price of gold rings fluctuates closely with the world gold price while SJC gold bars are priced by the State Bank.
However, despite the increased demand, large gold companies have almost run out of gold ring supplies for many months. People who want to buy are having difficulty, or have to pay in advance and receive the gold later, or are limited in the amount they can buy at a time. Small gold shops have also pushed up the price of gold rings.
In fact, it is not difficult to produce gold rings. However, because for more than ten years the State Bank has not granted licenses to businesses to import raw gold through official channels, and the police have dismantled many illegal gold rings, the supply of raw gold on the market is very scarce. Therefore, gold rings have gone from being abundant to being in short supply for the past few months.
"Recently, the State Bank sold gold through 4 banks in the Big 4 group and SJC Company, which solved the problem of gold bar supply. The problem of raw gold has not been solved because after many proposals, the State Bank has not yet granted licenses to businesses to import raw gold.
It can be seen that the price of gold rings in the country has been pushed up very quickly in recent days when buying power appeared. Many times, the world gold price increased by one, while the domestic price increased by two or three times," said expert Tran Duy Phuong.
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