The price of gold bars at Saigon Jewelry Company - SJC increased to a new record high of 124.7 million VND/tael for selling. However, the price of gold immediately decreased and is currently being bought at 123.5 million VND and sold at 124.5 million VND. Compared to the end of last week, each tael of gold bar was increased by 300,000 VND for buying but only increased by 100,000 VND for selling. The buying price increased faster, so the difference with the selling price decreased to 1 million VND/tael, lower than the end of last week.
In particular, the price of 4-number 9 gold rings at SJC Company decreased by 700,000 VND after one week when the buying price dropped to 116.6 million VND and the selling price was 119.1 million VND. Although the domestic gold price increased to a new record, after one week, buyers still lost nearly 1 million VND/tael for gold bars, and gold ring buyers lost more, up to 3.2 million VND/tael because the difference in buying and selling price of gold rings at SJC remained at 2.5 million VND/tael.
Domestic gold price sets new record but buyers still suffer heavy losses after a week
PHOTO: NGOC THANG
In contrast to domestic prices, world gold prices plummeted to $3,334.1 an ounce, $63.5 lower than last weekend. The precious metal fell as the dollar recovered and expectations for a rate cut eased as US inflation in July rose more than expected.
The plunge in gold prices has left many analysts indecisive when participating in a Kitco News survey on the gold price trend next week. The results showed that out of 10 analysts, 8 people, or 80%, said that gold would move sideways. Only 1 person, or 10%, predicted that the precious metal would increase, and 1 person thought that gold would continue to decrease in price. Meanwhile, in an online Main Street survey of 183 individual investors, 115 people, or 63%, predicted that gold prices would increase. In contrast, 23 people, or 18%, said that gold would go down, and the remaining 35 investors, or 19%, said that the precious metal would move sideways./.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-vang-hom-nay-1782025-lap-ky-luc-moi-nhung-nguoi-mua-lo-nang-sau-mot-tuan-185250817071151719.htm
Source: https://baolongan.vn/gia-vang-hom-nay-17-8-lap-ky-luc-moi-nhung-nguoi-mua-lo-nang-sau-mot-tuan-a200804.html
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