Gold price drops sharply by 2.2 million VND

Saigon Jewelry Company - SJC continuously adjusted the price of SJC gold bars on May 8, mainly following a downward trend. Each step reduced the price from 500,000 to 1 million VND per tael, bringing the total decrease compared to the beginning of the day to 2.2 million VND/tael. In the early afternoon, the price of SJC gold bars dropped to 118.5 million VND, selling at 120.5 million VND. Bao Tin Minh Chau Company bought at 118.3 million VND, selling at 120.5 million VND...

Similarly, the price of gold rings also dropped sharply by about 1.5 million VND per tael. SJC Company bought for 114 million VND and sold for 116.6 million VND. Bao Tin Minh Chau Company bought for 116.5 million VND and sold for 119.5 million VND. Phu Quy Company bought for 115 million VND and sold for 118 million VND...

Gold ring price decreases slower than SJC gold bar

The sharp drop in domestic gold prices has caused gold buyers to suffer a loss of more than VND4 million/tael during the day. The price of SJC gold bars is currently VND15.3 million/tael higher than the world price , while gold rings are VND11.4 million/tael higher.

The world gold price fell sharply from 3,394 USD/ounce to 3,318 USD/ounce. Compared to the highest level of the day at 3,416 USD/ounce, gold has lost nearly 100 USD/ounce. The price of nearly 3,500 USD/ounce that gold set on April 22 is still a record. In the past few days, after gold increased to over 3,400 USD/ounce, profit-taking selling pressure appeared, making the precious metal unable to surpass the peak. Factors that pushed gold prices up include the temporary easing of US-China trade tensions, the US Federal Reserve (Fed) temporarily not adjusting USD interest rates, Russia unilaterally declaring a ceasefire with Ukraine effective from May 8 on the occasion of the 80th anniversary of the victory over fascism.../.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-giam-manh-22-trieu-dong-185250508143218397.htm

Source: https://baolongan.vn/gia-vang-giam-manh-2-2-trieu-dong-a194887.html