At Phu Nhuan Jewelry Company (PNJ), each tael of SJC gold bars was bought and sold this afternoon at a price of 83.5-85.8 million VND/tael, 600 VND higher than yesterday’s closing level. thousand dong per tael on the buying side and more expensive at 700 thousand dong per tael on the selling side.
While SJC gold bar prices increased rapidly and reached a peak, international gold prices tended to go down. Currently, the world gold price has lost the mark of 2,300 USD/ounce.
At 3:30 p.m. (Vietnam time), the world spot gold price was at 2,298.2 USD/ounce. Converted at the current exchange rate at Vietcombank, world gold costs more than 70.52 million VND/tael (excluding taxes and fees). Accordingly, each amount of SIC gold bars is 15.28 million VND higher than the international price.
Talking to PV VietNamNet, gold expert Tran Duy Phuong commented that world gold prices will tend to decline because the US Federal Reserve (Fed) affirmed that currently desired inflation has not met expectations, according to data. The US economy is very good… so the Fed is not thinking about cutting interest rates yet. This makes it difficult for gold prices to increase in the short term, potentially falling to the 2,200 USD/ounce mark.
It can be seen that while precious metals in the international market have cooled down, domestic gold bars have set a new record and widened the gap with the world.
Gold bar bidding is a solution proposed by the State Bank with the expectation of increasing supply, thereby reducing the difference between domestic and world gold bar prices.
However, recent gold bar auctions have been continuously canceled or “sold out”. This morning, the fourth bidding session was also canceled because only one unit voted to bid.
Thus, after 4 times of organizing bidding, up to now, only one bidding session on April 23 took place as planned with the result that 2 members won the bid, with a total volume of 34 lots (3,400 tael).
In Directive No. 14 on implementing the task of operating monetary policy in 2024, focusing on removing difficulties for production and business, promoting macroeconomic growth, just signed by Prime Minister Pham Minh Chinh. promulgated, the Prime Minister requested the State Bank to immediately carry out inspection and examination of the gold market, activities of gold trading enterprises, stores, distribution agents and gold bar trading. .
.jpg?fit=300%2C300&ssl=1)
