Gold bar prices fell further by 2.6 million VND per ounce on the afternoon of February 2nd.

Domestic gold bar prices on the afternoon of February 2nd were listed by gold trading companies at 166 million VND/ounce for the selling price, continuing their downward trend with a further decrease of 2.6 million VND/ounce compared to the beginning of this morning's trading session (at 9:35 AM).

Customers buying and selling gold at Bao Tin Manh Hai Company. Photo: Tran Viet/TTXVN

Specifically, at 4:40 PM, the price of gold bars at Saigon Jewelry Company (SJC), DOJI Group, and Phu Quy Gold and Gemstone Group was listed at 163 - 166 million VND/ounce (buying price - selling price), a decrease of 2.6 million VND/ounce in both buying and selling prices compared to this morning's session. Compared to the closing price of last weekend (January 31st), the price of gold this afternoon decreased by 6 million VND/ounce in both buying and selling prices.

The price of silver bars listed by Bao Tin Minh Chau Company and Phu Quy Gold, Silver and Gemstone Group is 2.904 - 2.994 million VND per tael (buying price - selling price), a decrease of 199,000 VND/tael in the buying price and 205,000 VND/tael in the selling price compared to the beginning of this morning; a decrease of 271,000 VND/tael in the buying price and 280,000 VND/tael in the selling price compared to the closing price of last weekend.

On the global market, gold and silver prices continued their decline on February 2nd, after CME Group decided to raise margin requirements for metal futures contracts. This move added pressure to a market already shaken by news that US President Donald Trump nominated Kevin Warsh to the position of Chairman of the Federal Reserve (Fed).

At approximately 3:21 PM Vietnam time, on the goldprice.com electronic trading platform, the spot gold price fell 5.11% to $4,643.35 per ounce. Prior to this, the precious metal had recorded its worst single-day decline since 1983 on January 30th, falling by more than 9%.

Similarly, spot silver prices also plummeted by another 8.17% to $78.37 per ounce, following a record 27% drop in the previous session. In the futures market, US gold futures for April 2026 delivery fell 0.8%, trading at $4,707.60 per ounce.

The gold market continued its downward trend after CME Group announced an increase in margin requirements on January 31st, effective after the market closes on February 2nd. Specifically, the margin requirement for gold futures contracts (1 ounce) on the COMEX exchange increased from 6% to 8%, while the margin for silver contracts (5,000 ounces) surged from 11% to 15%. Platinum and palladium contracts also saw upward adjustments.

Source: https://baotintuc.vn/thi-truong-tien-te/gia-vang-mieng-chieu-22-giam-tiep-26-trieu-dongluong-20260202165439495.htm