Gold price drops sharply, leaving the 120 million VND/tael mark

Early this morning, the world gold price slipped below the 3,200 USD/ounce mark, trading at 3,182 USD/ounce, down sharply from 3,255 USD/ounce at the same time the previous day.

Gold price lost the 120 million VND/tael mark. Photo: HT

The reason is that investors increased selling when the gold price was high. In addition, the demand for this item decreased when the market received positive signals from the US and China agreeing to reduce tariffs on each other's goods.

At 9:00 a.m., the gold price was trading at 3,175 USD/ounce, about 19 million VND/tael lower than the domestic gold price.

In the domestic market, at the opening, businesses listed SJC gold bars at 117.4 million VND/tael (buy) - 119.4 million VND/tael (sell), down 600,000 VND/tael compared to the end of yesterday.

For gold rings, Phu Nhuan Jewelry Joint Stock Company set the price at 112 million VND/tael (buy) - 115 million VND/tael (sell), down 1 million VND/tael (buy) and 500,000 VND/tael (sell).

Saigon Jewelry Company Limited reduced the buying price by VND500,000/tael and kept the selling price unchanged, at VND112 million/tael (buying) - VND115 million/tael (selling).

114.8 million VND/tael (buy) - 117.8 million VND/tael (sell) is the price listed by Bao Tin Minh Chau Company Limited, 700,000 VND/tael lower than the end of the previous day each way.

The buying-selling price range is commonly set by businesses at 2-3 million VND/tael.

Yesterday, domestic gold prices initially remained stable, then decreased by 500,000 VND/tael each way.

Source: https://hanoimoi.vn/gia-vang-giam-manh-bo-moc-120-trieu-dong-luong-702293.html