Gold Market Sees Volatility as Domestic Prices Affected by International and Local Factors

From August 31st to September 6th, the gold market experienced high volatility, with domestic prices affected by both international market fluctuations and local supply and demand factors.

The weekend of August 31st saw SJC gold bars listed at 145.7 - 148.7 million VND per tael (buy-sell), with similar prices maintained by DOJI, PNJ, and Phu Quy. Due to the extended National Day holiday, domestic gold prices remained almost unchanged during the first two days of September.

On September 3rd, the market experienced a sharp correction after global gold prices plummeted, causing SJC gold bars to fall by 1.3 million VND/ounce in both buying and selling prices, dropping to 144.4 - 147.4 million VND/ounce, the lowest level of the week.

However, over the weekend, domestic gold prices recovered, with SJC gold bars commonly priced at 145.6 - 148.6 million VND per tael on September 6th. Despite this recovery, buyers still incurred losses due to the buy-sell spread, which continued to be a significant risk for short-term transactions.