Vietnamese Gold Prices Soar as SJC Narrows Gap with Major Brands
Gold prices in Vietnam have surged, with SJC gold narrowing its price gap to other major brands. At 8:30 AM on July 27th, the buying and selling price of SJC gold bars reached 139-143 million VND/ounce, a 1.5 million VND/ounce increase from the previous session. The buy/sell spread decreased to 4 million VND/ounce, down from 5 million VND/ounce previously.
The prices of gold rings from various brands also increased sharply, with DOJI listing plain gold rings for investment purposes at 130.2-144.2 million VND/ounce and Bao Tin Manh Hai gold listed at 140.4-144.4 million VND/ounce. In general, the price of gold from all brands rose by 1.5-1.7 million VND/ounce compared to the previous trading session.
The price difference between SJC gold bars and gold rings from other major brands has decreased significantly, now standing at around 1.5 million VND/ounce, a 50% reduction from when the diamond smuggling scandal occurred.