At the end of February 28, the price of SJC gold bars and gold rings has not stopped falling.

(NLDO) - A surprising development is that domestic gold prices in recent days have decreased more slowly than the world price decline.

At the end of February 28, Vietnam time, the price of gold on the international market fell to 2,863 USD/ounce, losing more than ten USD per ounce compared to the morning. This is the third consecutive day that the price of gold has decreased.

In just 3 days, the world gold price fell from its peak of 2,954 USD/ounce to 2,862 USD/ounce, losing nearly 100 USD per ounce (equivalent to a decrease of about 3.1 million VND/tael). This is a very sharp decrease in the gold price after a period of hot increase for many consecutive weeks.

World gold prices go down, causing domestic gold prices to continuously decrease.

SJC, PNJ, DOJI companies simultaneously listed the price of SJC gold bars at 88.5 million VND/tael for buying and 90.5 million VND/tael for selling, down 300,000 VND/tael compared to the morning. In total, the price of gold lost 600,000 VND/tael during the day.

Domestic gold price continues to decrease

The difference between buying and selling prices has narrowed to 2 million VND/tael. In fact, the difference between buying and selling at Mi Hong is only 600,000 VND/tael, because this gold shop raised the buying price to 90.4 million VND/tael and the selling price to 91 million VND/tael.

Compared to the peak of 93.1 million VND/tael set 2 weeks ago, the price of gold bars has now lost 2.6 million VND/tael.

Similarly, the price of 99.99 gold rings and jewelry gold also decreased by VND300,000/tael, down to VND88.5 million/tael for buying and VND90.4 million/tael for selling.

A surprising development is that domestic gold prices in recent days have decreased more slowly than the world price decline.

Gold expert Tran Duy Phuong said that the price of SJC gold bars and gold rings often decreases with a lag compared to the world price. Currently, the domestic gold price has not decreased sharply, but if the world price continues to decrease, it will stimulate the market's selling demand. At that time, the domestic gold price may decrease further.

World gold price converted at listed exchange rate is about 88.8 million VND/tael.

Source: https://nld.com.vn/cuoi-ngay-28-2-gia-vang-mieng-sjc-va-vang-nhan-chua-dung-da-giam-196250228182218903.htm