Vietnamese Gold Prices Surge Back Above 150 Million VND/Ounce
Gold prices in Vietnam have returned to the 150 million VND/ounce mark after a brief dip, according to recent data. This comes as global gold prices continue their upward trend, with the world gold price on the Kitco exchange reaching $4,642.6-$4,644.6 USD/ounce. The price of SJC gold bars has increased by 600,000 VND/ounce in both buying and selling directions compared to yesterday's closing price.
The trading price of 9999 gold rings has also surged, with the buying price listed at 147.1 million VND and the selling price at 150.1 million VND per ounce. The difference between the buying and selling price of gold is 3 million VND per tael. Analysts believe that the decline in gold prices over the past six months has caused many buyers to suffer heavy losses, leading to a decrease in speculative and short-term trading activities in Vietnam.
RMIT experts have noted that the appeal of gold for speculation and short-term trading in Vietnam has significantly decreased. Regulatory authorities may intervene in the supply when prices experience localized surges to combat gold hoarding and narrow the gap with the global market.