SJC gold price again… reversed and skyrocketed after the results of the gold auction

At the end of April 25, the price of SJC gold bars was listed by SJC Company for buying at 82 million VND/tael and selling for 84.3 million VND/tael – an increase of 500,000 VND per tael compared to the morning.

This development is quite surprising in the context that the price of 24K gold rings of all types is stable and world gold prices are also less volatile.

Specifically, the price of gold rings and 24K gold jewelry of all types was traded around 73.1 million VND/tael purchased, 74.8 million VND/tael sold – stable compared to the morning.

On the international market, gold price also inched up slightly to 2,326 USD/ounce, up about 6 USD/ounce compared to the morning.

As noted by the newspaper reporter Workers, In the past few days, the price of SJC gold bars often fluctuates according to the gold bar bidding information of the State Bank. Gold prices plummeted before the bidding information and then quickly rebounded after the results were announced.

Today, the gold price sold in the morning dropped to 83.8 million VND/tael but then quickly increased again, to 84.3 million VND/tael in the afternoon when the results of the gold bar auction were canceled due to Only 1 unit submitted a bid form.

Thus, in the past 3 auction sessions, only 1 session on April 23 was conducted successfully with 3,400 taels of gold out of a total of 16,800 taels of gold offered for sale in the session.

Why do units eligible to participate in bidding not submit bid forms? Talking quickly with reporters, the general director of a large gold company in Ho Chi Minh City said that due to the long holiday of April 30, gold auctions must buy large lots of at least 1,400 taels, while the starting price is also close to the price. market so units are not interested.

Not to mention at this time, world gold prices are fluctuating day by day, very difficult to predict. Gold bars are also not the focus of the business, so there is only enough demand to meet customer transactions.

With current developments, the price of SJC gold bars is about 9 million VND/tael higher than gold rings and about 13 million VND/tael higher than world gold (converted at the listed exchange rate).