At 9 am on September 14, the SJC gold bar price was listed by SJC Company and commercial banks at VND 80 million per tael for selling, stable compared to yesterday.
Meanwhile, the SJC Company and some other units also kept the buying price of SJC gold bars unchanged at VND 78 million per tael. The buy-sell spread remains high at VND 2 million per tael.
Not only gold bars, but the prices of 24K gold rings and jewelry also remained stagnant at VND 76.6 million per tael for buying and VND 77.9 million per tael for selling.
On the other hand, in the free market (buying and selling SJC gold bars at jewelry shops), SJC gold bars were commonly bought at VND 79.9 million per tael and sold at VND 80.5 million per tael, an increase of VND 200,000 compared to previous days.
Domestic gold prices stable on August 14
This development was unexpected, as previously, when the SJC gold bar price at the SJC Company and four banks remained stable at around VND 78.5 million per tael, the “free market” price was also traded at VND 80-81 million, and some places even sold at VND 82 million per tael.
As reported by NLD, in the past two months, the State Bank has implemented a plan to stabilize the gold market by directly selling SJC gold bars to the SJC Company and four state-owned commercial banks. These units will then sell gold directly to people with a demand.
Currently, the world gold price is traded at USD 2,461 per ounce, slightly down from yesterday, equivalent to about VND 75 million per tael according to the listed exchange rate.
Gold prices: SJC gold and plain gold rings surge simultaneously
On the morning of January 31st, the prices of SJC gold and 24k smooth gold rings in Vietnam saw a simultaneous increase compared to the previous day.
Market Update on February 2nd: Oil, Copper, Iron & Steel, Rubber, and Sugar Prices Decline, Gold Surges to Almost 1-Month High.
At the end of the trading session on February 1st, the prices of oil, copper, iron and steel, rubber, and sugar all dropped, while natural gas hit a nine-month low and gold reached its highest point in nearly a month.
Market Update on February 3rd: Crude oil, gold, copper, iron and steel, and rubber all decline together.
At the close of trading on February 2nd, the prices of oil, gold, copper, steel, rubber, and coffee all saw a simultaneous decrease, with iron ore hitting a two-week low.
