At the end of February 9th, the price of SJC gold bars fluctuated sharply.

At the end of February 9th, Saigon Jewelry Company (SJC) and other gold trading businesses listed the price of SJC gold bars at 177.4 million VND/ounce for buying and 180.4 million VND/ounce for selling, a decrease of 800,000 VND/ounce compared to the morning.

Similarly, the price of 99.99% pure gold rings and jewelry from SJC, as listed by Saigon Jewelry Company (SJC), is approximately 176.9 million VND/ounce for buying and 179.9 million VND/ounce for selling, a decrease of about 800,000 VND/ounce.

The price of plain gold rings at Phu Quy Group is trading around 176.8 million VND/ounce - 179.8 million VND/ounce (buying and selling prices).

During the day, the domestic gold price reached a high of 180.4 million VND/ounce – this is still about 10 million VND lower than the record peak of 191.3 million VND set on January 29th.

Giá vàng miếng SJC biến động mạnh Cuối ngày 9 - 2 và ảnh hưởng từ thị trường quốc tế - Ảnh 2.

Domestic gold prices have cooled down due to the influence of global prices. On the international market, at 5:30 PM Vietnam time, the world gold price was trading at $4,990 per ounce, down about $50 per ounce compared to the beginning of the morning session.

Barbara Lambrecht, a commodities analyst at Commerzbank, said that participants in the precious metals market are still watching, and price volatility could remain high in the near future.

According to Rania Gule, senior market analyst at XS.com, the volatility in gold reflects deep uncertainty among investors, stemming from concerns about inflation and recession, expectations of changes in monetary policy, and escalating geopolitical risks. Gold prices may remain below $5,000 per ounce in the short term, but still have the potential to reach $6,000 per ounce by the end of the year.

"The market hasn't run out of upward momentum yet. However, investors have become more selective and cautious – future rallies are likely to be less aggressive, interrupted by corrections, and driven by fundamental factors rather than solely by speculative momentum," said Rania Gule.

Currently, the world gold price, converted according to the listed exchange rate, is around 158 million VND, which is more than 22 million VND/ounce lower than the price of SJC gold bars – a record high in recent times.