SJC gold is 12 million dong/tael more expensive than the world

 

More expensive than the world price to a record of over 12 million dong per tael, many investors dropped SJC gold bars and switched to underground gold trading floors when being lured by all kinds of attractive tricks.

"Hang" high prices to avoid losses

The inexplicable increase in the price of precious metals in the country pushed the "expensive" level of SJC gold to a record high of 12.25 million dong per tael, equivalent to 20%.

On December 3, the price of SJC gold bars increased by 200,000 VND per tael, despite the decline in the international market. Saigon Jewelry Company - SJC bought 60.15 million VND/tael, sold 60.85 million VND/tael. The buying price of SJC gold at Eximbank (HM: EIB) increased to 60.2 million dong/tael and sold out to 60.7 million dong/tael. Meanwhile, precious metals on the international market plunged on the day from 1,776 USD/ounce to 1,767 USD/ounce. Compared to the beginning of the year, world gold is now down 130 USD/ounce, but SJC has increased sharply by 4.8 million VND/tael.

SJC gold is 12 million dong/tael higher than international. Ngoc Thang

Representatives of large gold trading units in the market such as SJC Company, Eximbank all said that the amount of gold traded on December 3 did not increase, trading was still slow, but the price was pushed up when the market appeared orders to ask questions. buy small umbrellas. This is because the gold source in the market is "exhausted". Holders of gold do not sell because they expect higher prices, so the supply is scarce.

Mr. Nguyen Ngoc Trong, Director of New Partner Gold Company (NPJ), said that the domestic gold market is gradually forming a new high ground. Previously, the world gold price was at 1,770 USD/ounce, the domestic price was about 58-59 million dong/tael, but now world gold is still at this level, domestic gold has reached 60-61 million dong/tael. 

This pushes SJC gold higher than the world by 12 million dong/tael. “The problem with the current physical gold market is that the transaction is not much, but because the supply and demand in the market cannot meet, many markets freeze when the Covid-19 epidemic develops complicatedly ... leading to regulatory organizations. Gold price is at a high level to avoid losses", a representative of the gold company admitted.

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