Gold price "evaporated" 3.5 million VND/tael in a week

On the weekend of May 17, the price of gold decreased by 200,000 VND/tael. SJC gold bars were listed by businesses at 115.5 million VND/tael (buy) - 118.5 million VND/tael (sell), down 200,000 VND/tael each way compared to the end of the previous day.

For gold rings, Saigon Jewelry Company Limited set the price at 111 million VND/tael (buy) - 114 million VND/tael (sell), 700,000 VND/tael lower than the previous day's end each way.

Meanwhile, Bao Tin Minh Chau One Member Co., Ltd. kept the price unchanged at 114 million VND/tael (buy) - 117 million VND/tael (sell).

Gold prices fell sharply this week. Photo: HT

Looking back at the domestic gold market, on the first day of the week, May 12, the price of SJC gold bars decreased by 2.8 million VND/tael each way, down to 117.2 million VND/tael (buy) - 119.2 million VND/tael (sell) because the world gold price decreased sharply.

The next day, the price of precious metals reversed, increasing by VND1.3 million/tael each way, to VND118.5 million/tael (buy) - VND120.5 million/tael (sell) and then decreased by VND500,000/tael each way on May 14.

The next day, the sharp drop in world gold prices caused the domestic price of precious metals to drop by VND2.5 million/tael (buying) and VND1.8 million/tael (selling), down to VND115.5 million/tael (buying) - VND118.2 million/tael (selling).

Notably, on May 16, in the morning, the gold price increased by 3 million VND/tael (buying price) and 2.6 million VND/tael (selling price), reaching over 120 million VND/tael, but in the afternoon of the same day, it reversed, decreasing by 2.8 million VND/tael (buying price) and 2.1 million VND/tael (selling price), respectively, to 115.7 million VND/tael (buying price) - 118.7 million VND/tael (selling price).

This price is only 200,000 VND/tael (buying) and 500,000 VND/tael (selling) higher than the previous day.

With the above developments, the price of SJC gold bars has decreased by 4.5 million VND/tael (buying price) and 3.5 million VND/tael (selling price) compared to the end of last week.

The price of gold rings also follows the trend of gold bars, but the increase-decrease amplitude is not similar.

Source: https://hanoimoi.vn/gia-vang-boc-hoi-3-5-trieu-dong-luong-trong-tuan-702545.html