Gold prices continue to fall, to the lowest level in 3 weeks

After falling in the early morning of May 15, domestic gold prices continued to drop by 500,000-1,000,000 VND/tael, to the lowest level in the past 3 weeks.

At 10am, Saigon Jewelry Company Limited listed gold rings at VND111 million/tael (buy) - VND114 million/tael (sell), down VND1 million/tael each way compared to the opening price of the same day.

Bao Tin Minh Chau Company Limited lowered the price by another 500,000 VND/tael each way, to 114.3 million VND/tael (buy) - 117.3 million VND/tael (sell).

The price of SJC gold bars and gold rings both decreased sharply. Photo: HT

Following the same trend, Phu Quy Joint Stock Company decreased from 112 million VND/tael (buy) - 115 million VND/tael (sell) to 111 million VND/tael (buy) - 114 million VND/tael (sell).

The price of SJC gold bars also continued to decrease. Enterprises set it at 116.6 million VND/tael (buy) - 118.9 million VND/tael (sell), a further decrease of 800,000 VND/tael (buy) and 500,000 VND/tael (sell); meaning that the buying-selling price range was widened to 2.3 million VND/tael instead of the previous 2 million VND/tael.

The current price is the lowest since April 22.

Early this morning, the price of SJC gold bars decreased by 600,000 VND/tael each way, the price of gold rings remained the same in some places and decreased by 500,000-700,000 VND/tael in others.

With the above developments, compared to the end of the previous day, the price of SJC gold bars decreased by a total of 1.4 million VND/tael (buying price) and 1.1 million VND/tael (selling price); the price of gold rings "evaporated" 1-1.5 million VND/tael.

On the international market, at nearly 11am, the gold price continued to decrease, to 3,152.6 USD/ounce compared to 3,175 USD/ounce at 9am. The converted world gold price is about 19.3 million VND/tael lower than the domestic gold price.

Compared to yesterday morning, this difference increased by over 1 million VND/tael because domestic gold prices decreased more slowly than international prices.

Source: https://hanoimoi.vn/gia-vang-giam-tiep-xuong-muc-thap-nhat-3-tuan-qua-702307.html