Soaring Gold Prices: Buyers Be Aware

As of this morning (April 29), the price of SJC gold bars remains high at over 85 million VND/tael, and the price of gold rings is over 76 million VND/tael. However, despite the high price, buyers are still suffering heavy losses due to the large difference between the buying and selling prices.

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Saigon Jewelry Company listed the price of SJC gold bars at 83 – 85.2 million VND/tael for buying and selling. The difference between buying and selling is 2.2 million VND/tael.

Gold price SJC at Doji Group is listed at 82.6 – 84.8 million VND/tael. The difference between buying and selling is 2.2 million VND/tael.

SJC gold price at Bao Tin Minh Chau Company is at 83.25 – 85.1 million VND/tael. The difference between buying and selling is 1.85 million VND/tael.

The price of gold bars last week went through a week of fluctuating transactions and increased again, exceeding 85 million VND/tael. When compared to the previous week’s price, the price of SJC gold bars increased by 1 million VND/tael for buying and increased by 1.2 million VND/tael for selling. However, the difference between buying and selling prices was widened by businesses to 2.2 million VND/tael.

Buyers of SJC gold bars still lose money despite the price increase.

Due to the widening difference between buying and selling prices, buyers of gold will suffer heavy losses if they invest in the short term.

With ring gold prices, at Bao Tin Minh Chau listed at 74.58 – 76.18 million VND/tael. The difference between buying and selling prices is 1.6 million VND/tael.

Doji Group’s gold rings are listed at 74.8 – 76.5 million VND/tael. The difference between buying and selling is 1.7 million VND/tael.

At the same time, the world gold price was at 2,326 USD/ounce, down 12 USD/ounce compared to this morning.

Overall, last week’s trading price of gold fell 0.31% compared to the previous week, in the context of geopolitical tensions showing signs of cooling down. In addition, the US Department of Commerce also said that GDP growth has slowed due to declining consumer purchasing power and exports.