SJC gold bar price decreased by 1.1 million VND/tael after hot direction

SJC Company listed the selling price of gold this afternoon at 91.3 million VND/tael, down 1.1 million VND/tael compared to yesterday afternoon, while the buying price was 88.8 million VND/tael. Thus, SJC Company has reduced the buying price by 1.3 million VND/tael compared to 90.1 million VND/tael yesterday afternoon.

Gold shops and gold companies also reduced prices. At Mi Hong gold shop, the price of SJC gold bars also dropped to 90.5 million VND/tael, 800,000 VND/tael lower than the selling price of gold bars at major gold companies.

Meanwhile, the buying price has been continuously decreasing. At the opening time, Mi Hong gold shop listed the buying price at 89.5 million VND/tael, but by noon today, the buying price had dropped to 88 million VND/tael.

Many gold holders today also expressed impatience as the purchase price evaporated rapidly. On gold forums, many people expressed concern because large gold companies were closed over the weekend while gold shops tended to lower the purchase price due to concerns about the risk of further price drops.

According to the price list updated this afternoon on forums, the price of 92 million VND/tael no longer appears today. Gold companies and many organizations have simultaneously reduced the selling price of SJC gold bars to around 90-91 million VND/tael.

Bao Tin Minh Chau has set the selling price of SJC gold bars at 91.2 million VND/tael, down 700,000 VND/tael. Phu Quy Company also listed the selling price of SJC gold bars at the same level, while PNJ Company listed the selling price of SJC gold bars 100,000 VND/tael higher, at 91.3 million VND/tael. DOJI Company is selling at 90.3 million VND/tael.

On the buying side, the common buying price of SJC gold bars is at 88-89 million VND/tael, depending on the company.

The world gold price ended the trading week at 2,360.7 USD/ounce. Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 72.53 million VND/tael.

Thus, compared to the converted world gold price, the price of SJC gold bars is 18.77 million VND/tael higher.

The price of gold rings today is still stable at 76.55 million VND/tael, buying at 74.85 million VND/tael.

At a recent meeting on solutions to manage the gold market, Deputy Prime Minister Le Minh Khai requested the State Bank to immediately conduct specialized inspections of the gold market, the activities of production and trading enterprises, stores, distribution agents and gold bar buyers and sellers.

A day ago, according to the Resolution of the regular meeting in April, the Government requested the State Bank to more promptly implement solutions to manage and strictly control market transactions.

The Government assessed that the management of the gold market in recent times has been inadequate, with a high difference between domestic and international prices. This affects growth, inflation control, and macroeconomic stability. The State Bank needs to immediately address the high difference between domestic and international prices, as well as smuggling, speculation, and price manipulation.