Global Gold Prices Soar, Domestic SJC Prices Plummet

The gold market on August 20th experienced an unusual fluctuation in prices. World gold prices surged by more than 4% to $4,523 per ounce, while domestic SJC gold prices fell sharply by 1.6 million VND per tael.

This disparity between global and local prices has left buyers cautious about making decisions based solely on price. While most brands lowered their prices, BTMH increased its gold prices by as much as 900,000 VND/ounce.

The SJC gold prices dropped to 139.7 million VND/ounce for buying and 142.7 million VND/ounce for selling, a decrease of 1.6 million VND/ounce compared to August 19th. DOJI gold prices in Hanoi and Ho Chi Minh City also decreased similarly.

However, BTMH took the opposite direction, increasing its buying price to 142.5 million VND/ounce and selling price to 146.5 million VND/ounce. This represents a significant divergence from the rest of the market.