The price of gold bars at Saigon Jewelry Company - SJC skyrocketed at the end of the week, buying at 121.5 million VND, selling at 123.5 million VND. In total, after one week, each tael of SJC gold bar increased by 1.9 million VND in buying and 2.4 million VND in selling. This is a record price for gold bars ever. The selling price increased more, pushing the difference with the buying price to 2 million VND/tael, 500,000 VND higher than last weekend. This caused buyers to only make a profit of 400,000 VND/tael after one week, despite the sharp increase in gold prices.
Gold price increased by 2.4 million VND/tael this week, but buyers only made a profit of 400,000 VND. PHOTO: DAN THANH
Meanwhile, the price of 4-number 9 gold rings at SJC Company increased by 2 million VND after one week, bringing the buying price to 116.5 million VND and the selling price to 119 million VND. The difference between the buying and selling price of gold rings is still at 2.5 million VND/tael, so after one week, buyers still make a profit of 500,000 VND/tael. The highest selling price of gold rings on the market is at Bao Tin Minh Chau Company at 120.2 million VND while the buying price is 112.2 million VND, an increase of 1 million VND compared to the end of last week.
World gold prices increased by 25.5 USD after a week, reaching 3,361.5 USD/ounce. World gold prices increased again after the weak US July employment report while a series of newly announced tariffs continued to boost demand for safe havens.
Speaking to Kitco News, Marc Chandler, CEO of Bannockburn Capital Markets, said that the US employment data, the rapid rate cut, and the weakening USD may have created a bottom for gold. If it breaks above $3,375, gold will target around $3,440. Similarly, Chris Vecchio, Head of Futures and Forex Strategy at Tastylive.com, said that President Donald Trump's recently announced high tariffs have caused countries to trade less with the USD, so gold continues to be sought after as an alternative currency asset.
Notably, in a Kitco News survey of 17 analysts, 16 people, or 94%, said gold would rise next week. Only 1 person, or 6%, predicted the precious metal would move sideways, and no one thought gold would fall./.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-vang-hom-nay-382025-tang-24-trieu-dong-nhung-nguoi-mua-chi-loi-400000-dong-185250803072743056.htm
Source: https://baolongan.vn/gia-vang-hom-nay-03-8-tang-2-4-trieu-dong-nhung-nguoi-mua-chi-loi-400-000-dong-a200021.html
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