Vietnam's Gold Buyers Struggle with Widening Price Gaps

Despite recent price increases in Vietnam's gold market, buyers are still losing money due to the significant difference between buying and selling prices.

The Saigon Jewelry Company (SJC) listed SJC gold bar prices at 145.7-148.7 million VND/tael, with a buying-selling difference of 3 million VND/tael.

Compared to the previous week's closing session on August 23, SJC gold bar prices increased by 1.1 million VND/tael in both buying and selling directions.

However, this price increase is not enough to compensate for the difference between buying and selling, resulting in a loss of about 1.9 million VND/tael for buyers who purchased gold on August 23 and resold it on August 30.