SJC gold bar price suddenly dropped sharply by 700,000 VND/tael

After SJC gold bars increased to 81 million VND at noon on March 2, Saigon Jewelry Company - SJC sharply reduced the selling price by 400,000 VND/tael in the early afternoon, down to 80.6 million VND/tael, buying price to 78.1 million VND. Not stopping there, SJC Company adjusted the price down twice in less than 2 hours with the range of 100,000 - 200,000 VND per tael. The buying price of gold bars at the end of the day on March 2 dropped to 77.8 million VND, selling price to 80.3 million VND.

Similarly, other gold trading companies also made corresponding adjustments. Doji Group bought SJC gold bars for 77.6 million VND (the highest price of the day for this unit was 78.45 million VND), and sold for 80.3 million VND (the highest price was 80.95 million VND). After increasing the buying price of SJC gold bars to the highest price of the day at 78.6 million VND, Bao Tin Minh Chau Company continuously reduced it to 78 million VND, while the selling price decreased from 80.9 million VND to 80.25 million VND...

SJC gold price reached 81 million VND/tael on March 2

Meanwhile, the price of gold rings only tends to increase strongly, almost reaching a record high of 68 million VND/tael. Bao Tin Minh Chau Company increased the price of gold rings by 920,000 VND per tael, buying at 66.678 million VND, selling at 67.98 million VND - this is the company with the highest price of gold rings on the market today. Doji Group has a buying price of 66.6 million VND, selling at 67.8 million VND. SJC Company bought at 65.3 million VND, selling at 66.6 million VND... Gold rings officially set a new record.

Compared to the beginning of the year, the price of SJC gold bars has increased by 6 - 7 million VND per tael, equivalent to an increase of about 9%. The price of gold rings has increased by about 3.3 - 4.5 million VND per tael, equivalent to about 5%.

The reason for the sharp decline in domestic precious metals is believed to be due to the selling pressure of gold when the price reached a record high. Domestic gold prices suddenly increased sharply in line with world prices. International precious metals increased by about 40 USD/ounce, up to 2,082 USD/ounce. Converted according to the bank's USD price, excluding taxes and fees, the world gold price is equivalent to about 62.2 million VND/tael. Thus, the price of SJC gold bars is still 18.1 million VND/tael higher than international prices, and gold rings are 4.4 - 5.8 million VND/tael higher.

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