Gold price drops, buying from the beginning of May results in a loss of 300,000 VND/tael

After the May 3 holiday, the price of 9999 gold bars at SJC Ho Chi Minh City was VND66.65 million/tael (buy) and VND67.25 million/tael (sell). SJC Hanoi listed at VND66.65 million/tael (buy) and VND67.27 million/tael (sell).

Doji Hanoi listed at 66.65 million VND/tael (buy) and 67.25 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.5 million VND/tael and sold at 67.2 million VND/tael.

Gold prices continuously adjusted downward from May 5-9. Then, from May 13-17, gold prices increased and decreased by about 50,000-100,000 VND/tael.

Domestic gold price chart. (Photo: D.Anh)

By the session of May 20-21, domestic gold prices reached the highest level of the month. The price of 9999 gold bars at SJC Ho Chi Minh City was 66.7 million VND/tael (buy) and 67.4 million VND/tael (sell). SJC Hanoi listed at 66.7 million VND/tael (buy) and 67.42 million VND/tael (sell).

Doji Hanoi listed at 66.55 million VND/tael (buy) and 67.15 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.7 million VND/tael and sold at 67.2 million VND/tael.

From May 22 to June 2, domestic gold prices gradually decreased. At the end of the trading session on June 3, the price of 9999 gold bars at SJC Ho Chi Minh City was VND66.35 million/tael (buy) and VND67.05 million/tael (sell). SJC Hanoi listed at VND66.35 million/tael (buy) and VND67.07 million/tael (sell).

Doji Hanoi listed at 66.35 million VND/tael (buy) and 66.95 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.45 million VND/tael and sold at 66.95 million VND/tael.

Monthly, the gold price at SJC decreased by 300,000 VND/tael (buy) and 200,000 VND/tael (sell). Meanwhile, the gold price at Doji decreased by 300,000 VND/tael.

If buying SJC gold at the beginning of the month at 67.25 million VND/tael and selling at 66.35 million VND/tael at the end of this week, the buyer will lose 900,000 VND/tael.

On the world market, the spot gold price on June 3 (Vietnam time) was trading at 1,947 USD/ounce. The futures gold price was trading at 1,948 USD/ounce.