SJC Gold Prices Dip 50 Million VND from Peak but Still Up Year-on-Year

The price of SJC gold bars has decreased by nearly 50 million VND/tael from its peak but still increased after a year, according to Laodong.vn. On July 26, Saigon Jewelry Company listed the price of SJC gold bars at 137.5-141.5 million VND/tael.

Compared to July 18, the buying price of SJC gold bars decreased by 7 million VND/tael, and the selling price decreased by 6 million VND/tael. On the selling side, gold bars lost about 4.1% after only one week.

Ms. Le Thi Huong Tra from the Institute of Banking Science Research at the Banking Academy advised investors not to rush to consider the decrease in gold prices as an opportunity to 'catch bottom', especially in the context that prices are still high and the market is highly volatile.