Gold prices plummeted sharply.

TPO - This afternoon, gold prices continued to fall sharply to 143.8 million VND/ounce. Currently, the difference between Vietnamese gold prices and world gold prices is more than 7 million VND/ounce - the lowest level in the past two years.

At 4 PM, Saigon Jewelry Company, DOJI Group, and Phu Quy simultaneously listed the price of SJC gold bars at 138.8 - 143.8 million VND/ounce for buying and selling, a decrease of 5.8 million VND/ounce compared to this morning.

The price of gold rings also decreased accordingly. Specifically, Bao Tin Minh Chau and Phu Quy gold rings are priced at 138.8 - 143.8 million VND/ounce; SJC gold rings are listed at 138.6 - 143.6 million VND/ounce.

Domestic gold prices are now only about 7 million VND/ounce higher than world prices .

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Domestic gold prices fell sharply as world prices dropped to $4,288 per ounce, a decrease of $24 compared to earlier this morning. This drop is equivalent to over 136 million VND per tael (approximately 37.5 grams) for the world gold price; the difference between Vietnamese and world gold prices is now just over 7 million VND per tael – the lowest level in the past two years.

Previously, domestic gold prices were 15-16 million VND/ounce higher than world prices, and at times even nearly 30 million VND/ounce higher.

Although the price difference with the world market has narrowed, the buy-sell spread between gold trading businesses has widened to 5 million VND/ounce, causing significant losses for buyers.

Therefore, those who bought from yesterday until today have suffered a "double" loss of more than 10 million VND per tael.

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Source: https://tienphong.vn/gia-vang-lao-doc-rat-manh-post1849790.tpo