Surprised with gold price on free market

(NLDO) – While the world gold price "turned around" and plummeted at the end of the day, the price of 99.99 gold rings suddenly increased again, soaring to 89.65 million VND/tael.

At 5:00 p.m. on October 31, the price of SJC gold bars was kept at its peak by businesses, buying at 88 million VND/tael and selling at 90 million VND/tael.

Similarly, the price of 99.99 gold rings and 24k gold jewelry also remained stable despite the world gold price falling freely. Specifically, SJC Company kept the buying price unchanged at VND87.7 million/tael, selling price at VND89.2 million/tael. PNJ Company listed the buying price of gold rings at VND88.4 million/tael, selling price at VND89.5 million/tael, stable compared to the morning.

Meanwhile, Bao Tin Minh Chau Company pushed the buying price of plain gold rings up to 88.63 million VND/tael and the selling price to 89.63 million VND/tael.

Gold ring prices continued to increase at the end of the day, reaching an unprecedented level.

The highest selling price of 99.99 gold rings at DOJI Group is 89.65 million VND/tael, buying price is 88.65 million VND/tael, an increase of 50,000 VND per tael compared to the morning, after increasing by 600,000 VND compared to yesterday.

In the free market, the price of SJC gold bars and the price of plain gold rings fluctuated in opposite directions. Some gold shops bought SJC gold bars for 90-91 million VND/tael.

On the contrary, the price of plain gold rings is traded by gold shops lower than the company, when buying at 87.5 million VND/tael, selling at 88.3 million VND/tael.

In contrast to domestic gold, the international market is witnessing a downward trend of precious metals. At 5 p.m., Vietnam time, precious metals on the international market were traded at $2,775/ounce, down about $12/ounce compared to the morning.

Gold prices have plummeted after hitting an all-time high of $2,785 an ounce in the past few days. Analysts had previously warned that gold prices could face sharp downward pressure in the short term after continuously increasing dramatically and setting new highs. Pressure from investors taking profits could cause gold prices to fall.

Currently, the world gold price converted according to the listed exchange rate is about 85.1 million VND/tael.

Source: https://nld.com.vn/cong-ty-cua-ti-phu-pham-nhat-vuong-ho-tro-chu-xe-xang-doi-sang-xe-dien-196241031144608334.htm