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World gold prices plummeted, causing domestic gold prices to weaken sharply. Photo: The Bang . |
On the morning of June 2nd, Saigon Jewelry Company Limited (SJC) listed the trading price of gold bars at 154.5 - 157.5 million VND/ounce (buy - sell). This price decreased by 1 million VND per ounce compared to the closing price of the previous session.
Similarly, other major gold brands such as Phu Nhuan Jewelry Joint Stock Company (PNJ), Phu Quy Group, DOJI Group, Bao Tin Minh Chau, Bao Tin Manh Hai, Mi Hong Company... also simultaneously reduced the price of gold bars to below 158 million VND/ounce.
On the daily price chart, over the past week, the price of gold bars has mainly followed a downward trend, decreasing by nearly 5 million VND/ounce, bringing the selling price from around 162 million VND to the current level, equivalent to a net decrease of about 3%.
This downward trend, coupled with the buy-sell spread of approximately 3 million VND per tael applied by businesses, is causing gold buyers to incur losses of nearly 8 million VND per tael in just the past 7 days.
Furthermore, considering the period from the beginning of the year, the current trading price of SJC gold bars is already at its lowest point since mid-January.
| SJC gold bar prices hit a 5-month low. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Source: SJC. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Label | March 29 | March 30th | March 31 | 1/4 | 2/4 | 3/4 | 4/4 | 5/4 | April 6th | 7/4 | April 8th | April 9th | April 10th | April 11th | April 12th | April 13th | April 14th | April 15th | April 16th | April 17th | April 18th | April 19th | April 20th | April 21 | April 22nd | April 23 | April 24th | April 25th | April 26 | April 27 | April 28 | April 29 | April 30th | 1/5 | 2/5 | 3/5 | 4/5 | 5/5 | 6/5 | 7/5 | 8/5 | 9/5 | May 10th | May 11th | May 12th | May 13th | May 14th | May 15th | May 16th | May 17th | May 18th | May 19th | May 20th | May 21st | May 22nd | May 23 | May 24th | May 25th | May 26th | May 27th | May 28th | May 29th | May 30th | May 31st | 1/6 | 2/6 | |
| Purchase price | million VND/ounce | 169.8 | 170.8 | 171.9 | 173.7 | 170 | 170 | 171.5 | 171.5 | 170.1 | 169.5 | 171 | 168.5 | 169.7 | 169.4 | 169.4 | 168.5 | 170 | 170 | 167.7 | 167.5 | 168.5 | 168.5 | 168.3 | 168.1 | 167.5 | 166.7 | 165.5 | 166.3 | 166.3 | 166.3 | 164.5 | 163 | 163 | 163 | 163 | 163 | 163.3 | 162 | 163 | 164.5 | 164.5 | 164.5 | 164.5 | 162.2 | 162.5 | 162 | 162 | 161 | 161 | 161 | 160.5 | 160.8 | 158.5 | 160.5 | 159 | 158.5 | 158.5 | 159 | 158.5 | 157.7 | 154.5 | 155.5 | 156 | 156 | 155.5 | 154.5 |
| Selling price | 172.8 | 173.8 | 174.9 | 176.7 | 173.5 | 173.5 | 174.5 | 174.5 | 173.1 | 172.5 | 175 | 171.5 | 172.7 | 172.4 | 172.4 | 171.5 | 173.5 | 173.5 | 171.2 | 171 | 172 | 172 | 171.3 | 170.6 | 170 | 169.2 | 168 | 168.8 | 168.8 | 168.8 | 167.5 | 166 | 166 | 166 | 166 | 166 | 166.3 | 165 | 166 | 167.5 | 167.5 | 167.5 | 167.5 | 165.2 | 165.5 | 165 | 165 | 164 | 164 | 164 | 163.5 | 163.8 | 161.5 | 163.5 | 162 | 161.5 | 161.5 | 162 | 161.5 | 160.7 | 157.5 | 158.5 | 159 | 159 | 158.5 | 157.5 | |
A similar trend was observed for gold rings, with domestic businesses simultaneously lowering their prices sharply this morning, by approximately 1 million VND per ounce.
Currently, Phu Quy, PNJ, DOJI, Bao Tin Minh Chau, and Bao Tin Manh Hai are buying gold rings at around 154.2-154.5 million VND/ounce and selling them at around 157.2-157.5 million VND. Meanwhile, Mi Hong Company lists gold rings at 154.5 - 156.5 million VND/ounce, the highest price on the market.
Globally, the spot gold price in the current trading session also fell slightly by $4 (-0.1%) compared to the closing price, trading around $4,480 per ounce. During last night's trading session, the price of the precious metal experienced a sharp drop from $4,520 per ounce to $4,450 per ounce before recovering to its current price range.
Global gold prices fell after the US released its manufacturing purchasing managers' index (PMI). The Institute for Supply Management (ISM) reported that the US manufacturing PMI rose to 54 in May, the highest level since May 2022. Additionally, the decline in gold prices was influenced by rising oil prices, higher US Treasury yields, and a stronger US dollar.
Currently, based on the prevailing exchange rate (excluding taxes and fees), the world gold price is equivalent to approximately 143 million VND per tael, which is nearly 15 million VND per tael lower than the domestic gold price.
Source: https://znews.vn/gia-vang-bi-thoi-bay-ca-trieu-dong-moi-luong-post1656163.html
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