World gold prices are constantly adjusting after a sharp increase - Screenshot
Gold prices are still searching for a bottom.
Thus, compared to its peak of $2,685.6 per ounce, the world gold price has decreased by $50.5 per ounce, equivalent to a decrease of 1.5 million VND per tael.
At the current price, converted using the exchange rate listed at banks, the world gold price is equivalent to only 78.6 million VND per tael.
The decline in global gold prices has caused gold prices in the free market to plummet.
According to reports, by the end of today, the price of SJC gold bars in the free market had fallen to 84.5 million VND/ounce, a decrease of 1.8 million VND/ounce compared to the end of September 28th.
Compared to September 27th, the price of SJC gold bars in the free market has plummeted by 2.8 million VND per ounce.
Similarly, the price of 9999 gold rings in the free market also plummeted sharply, from 82.5 million VND/ounce at the end of September 28th to 81.8 million VND/ounce, equivalent to a decrease of half a million VND/ounce compared to the end of last week.
Compared to September 27th, the price has decreased by nearly 3 million VND per tael.
The dramatic drop in gold prices both domestically and internationally since last weekend has caused concern among gold holders.
Investors are hoarding less gold.
The supply of gold on the market has become abundant, no longer scarce as in previous days - Photo: NGOC PHUONG
Speaking to Tuoi Tre Online , expert Tran Duy Phuong said that, based on observations, investors have shifted from hoarding to aggressively selling. The amount of gold being sold on the market is quite abundant, but buyers are hesitant, unlike last week when gold prices rose and most people were buying.
Today, SJC Company listed the selling price of 9999 gold rings at 83 million VND/ounce and the buying price at 81.5 million VND/ounce. Meanwhile, the price of SJC gold bars remained unchanged at 83.5 million VND/ounce - 81.5 million VND/ounce (selling price - buying price).
Bao Tin Minh Chau company also maintained the selling price of 9999 gold rings at 83.44 million VND/ounce today, and the buying price at 82.54 million VND/ounce.
At DOJI Company, the selling price of 9999 gold rings decreased slightly from 83.45 million VND/ounce to 83.35 million VND/ounce, while the buying price was 82.3 million VND/ounce.
Expert Tran Duy Phuong predicts that the downward trend in world gold prices may not have stopped yet. There is a possibility that world gold prices could fall by another $100/ounce to $2,550/ounce before recovering.
If this happens, the price of SJC gold bars could fall to 81.5 million VND/ounce, while the price of 9999 gold rings could drop to 77 million VND/ounce.
Source: https://tuoitre.vn/gia-vang-lai-cam-dau-20240930202720963.htm
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