On the morning of November 19th, the price of SJC gold and gold rings reversed course and surpassed 150 million VND.

On the morning of November 19th, the price of SJC gold bars was uniformly listed by SJC, PNJ, and DOJI gold companies at 148.7 - 150.7 million VND/ounce for buying and selling respectively, an increase of 1.4 million VND/ounce compared to yesterday.

There is a difference in the buying price of gold bars between businesses, for example, Bao Tin Minh Chau Company buys at 149.2 million VND; while Phu Quy Group buys at only 147.7 million VND.

Meanwhile, the price of SJC 99.99% gold rings and jewelry only increased by 600,000 VND/ounce to 145.9 - 148.4 million VND/ounce for both buying and selling.

On the international market, the spot price of gold today is $4,074 per ounce, an increase of $64.47 per ounce in the past 24 hours.

Gold prices are entering a strong upward trend as a wave of sell-offs spreads across global stock markets. Concerns about the possibility of the Fed cutting interest rates in December are driving investors to gold as a store of value. In the context of a slowing economy, gold has become a safe haven for many investors seeking to hedge against risk.

Gold prices continue to be supported by signs of a slowdown in the US labor market and the AI ​​bubble putting pressure on many stock groups. Capital flows into gold are increasing demand, pushing international gold prices closer to new highs. Given this context, gold prices are predicted to remain highly volatile in the coming period.

A key factor contributing to the long-term upward trend in gold prices is the gold accumulation by central banks. According to Goldman Sachs and Bloomberg, China added approximately 15 tons of gold to its foreign exchange reserves in September. This large purchase provides further impetus, contributing to the rise in gold prices on the international market.

In Vietnam, many investors hope that gold prices will cool down to narrow the gap with world prices. However, the difference between domestic and international gold prices is currently as high as 19-21 million VND/ounce. Despite the sharp increase in global gold prices, this gap remains inaccessible to most buyers.

According to many experts, the high price of domestic gold is due to limited supply. Vietnam has not imported raw gold for the production of SJC gold bars or gold jewelry for many years, resulting in a supply shortage in the market. Consequently, gold prices are consistently higher than the global average, putting pressure on both individuals and businesses involved in the gold trade.