(NLĐO) – In just one day, the price of SJC gold bars and gold rings dropped by millions of dong per ounce, following the sharp decline in world prices.
On the morning of February 15th, the price of SJC gold bars was uniformly listed by SJC, PNJ, DOJI , and Phu Quy companies at 87.3 million VND/ounce for buying and 90.3 million VND/ounce for selling, a decrease of up to 1 million VND/ounce compared to the end of yesterday.
This is a very sharp drop after two days of strong recovery. Some businesses adjusted gold prices down below the 90 million VND/ounce mark, such as Mi Hong company selling SJC gold bars at 89.7 million VND/ounce.
Similarly, the prices of 24K gold rings and jewelry also decreased, with businesses listing them at 87.3 million VND/ounce for buying and 90.1 million VND/ounce for selling, a drop of up to 1 million VND per ounce compared to the end of yesterday.
SJC gold bar and gold ring prices drop sharply.
The spread between buying and selling prices continues to remain at its highest level, reaching 3 million VND/ounce. Domestic gold prices plummeted as world prices "free-fell" below the 2,900 USD/ounce mark.
At the close of trading on Friday, the price of gold stood at $2,883 per ounce, down more than $50 per ounce from the previous session. During the session, the price of gold plummeted by tens of dollars per ounce at one point.
In a rather unexpected turn of events, not only gold but also the US dollar fell sharply. The US dollar index on the international market continued to decline to 106.6 points, after losing about 1% in the previous session. Analysts believe that profit-taking pressure after weeks of rapid increases caused gold prices to fall.
Nevertheless, gold prices are still being supported by several factors, such as the US Federal Reserve's reluctance to cut interest rates while inflation persists; and the ongoing conflict in the Middle East. Most notably, the constantly changing tariff policies of the US President with various partners are causing investors to fear instability in international financial markets and seek refuge in gold as a safe haven.
Currently, the world gold price, converted according to the listed exchange rate, is approximately 88.9 million VND/ounce, only about 1 million VND/ounce lower than SJC gold bars and gold rings.
Source: https://nld.com.vn/gia-vang-mieng-sjc-vang-nhan-lai-giam-chong-mat-196250215093514962.htm
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