The price of 999.9 gold rings continues to fall sharply, selling for less than 77 million VND/tael

Gold prices reversed course and surged by 600,000 VND, with 999.9 gold rings surpassing 77 million VND/ounce. SJC gold prices continued their upward trend today, reaching 84 million VND/ounce, while 999.9 gold rings saw a slight decrease.

Domestic gold prices

At noon on April 21st, the price of SJC gold decreased slightly by about 100,000 VND/ounce depending on the business. Currently, the price of SJC gold at Phu Nhuan Jewelry Joint Stock Company is trading around 81.80 - 83.85 million VND/ounce, down 50,000 VND/ounce for both buying and selling prices compared to yesterday.

Giá vàng nhẫn 999.9 tiếp tục giảm sâu, bán ra dưới 77 triệu đồng/lượng

The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 82.00 - 83.85 million VND/ounce, down 50,000 VND/ounce for buying and down 150,000 VND/ounce for selling compared to yesterday.

At Phu Quy Group, the price of SJC gold bars is currently trading around 81.80 - 83.80 million VND/ounce for buying and selling, a decrease of 50,000 VND/ounce for both buying and selling prices compared to yesterday.

The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 82.00 - 83.85 million VND/ounce, down 50,000 VND/ounce for buying and down 150,000 VND/ounce for selling compared to the previous session.

Following the decline in SJC gold prices, the price of 999.9 gold rings also decreased slightly today, varying among businesses. Specifically, the price of 999.9 (24k) gold rings, Thang Long gold bars, and plain gold rings at Bao Tin Minh Chau Company traded at 75.26 - 76.96 million VND/ounce for buying and selling, a decrease of 100,000 VND/ounce in both buying and selling prices compared to yesterday.

999.9 (24k) Thang Long gold jewelry is trading around 74.40 - 76.40 million VND/ounce, down 100,000 VND/ounce for both buying and selling prices compared to yesterday.

Similarly, gold rings from Thang Long Gold Dragon and Kim Gia Bao, manufactured by Bao Tin Manh Hai Company, are trading around 75.26 - 76.96 million VND/ounce (buy-sell), a decrease of 200,000 VND/ounce in both buying and selling prices compared to yesterday.

Gold prices traded at Bao Tin Manh Hai

The price of 999.9 gold is around 74.40 - 76.60 million VND/ounce, down 200,000 VND/ounce for both buying and selling compared to yesterday's session. The price of 99.9 gold is currently trading around 74.30 - 76.50 million VND/ounce, down 200,000 VND/ounce for both buying and selling compared to yesterday's session.

At Phu Quy Group, Phu Quy 999.9 gold rings and Phu Quy 999.9 gold God of Wealth rings are trading around 75.30 - 76.85 million VND/ounce, down 100,000 VND/ounce for both buying and selling prices compared to yesterday.

The price of 999.9 gold is around 74.50 - 76.60 million VND/ounce, down 200,000 VND/ounce for both buying and selling prices compared to yesterday's session.

Gold bar transactions at PNJ Company.

The State Bank of Vietnam is scheduled to auction 16,800 SJC gold bars at 10:00 AM tomorrow (April 22nd). Each lot will consist of 100 bars with a 10% deposit requirement. The reference price for calculating the deposit value is 81.8 million VND per bar, and the bidding increment is 10,000 VND per bar.

The minimum bid volume per member is 14 lots (1,400 taels), and the maximum bid volume is 20 lots. Each bidding member may only register one minimum price equal to or higher than the floor price announced by the State Bank of Vietnam .

The State Bank of Vietnam will send out a notice one day before the auction. After the floor price is announced, credit institutions and gold trading businesses begin filling out their bid forms. These entities have 30 minutes to decide on the volume and purchase price. One hour after the bidding closes, the State Bank of Vietnam will announce the results.

World gold prices

The world gold price recorded at noon today, Vietnam time, was $2,391 per ounce. Converted using the current exchange rate at Vietcombank , the world gold price is approximately VND 72.22 million per tael (excluding taxes and fees). Therefore, the price of SJC gold bars is still VND 9.78 million per tael higher than the international gold price.

World gold price chart this afternoon

Demand for gold has been high in international markets recently, despite many officials at the US Federal Reserve (Fed) suggesting that interest rates should be maintained at high levels for some time longer.

Kitco's survey on gold price trends for the coming week also shows optimism about gold price movements. In the Wall Street survey, 14 analysts participated, with 71% believing gold prices will rise, 21% saying they will fall, and only 7% predicting they will remain stable.

Similarly, in an online survey on Main Street, 149 investors responded, with 64% predicting that gold prices would continue to rise, 19% expecting a decline, and the remainder forecasting the precious metal would remain stable.

Some analysts predict that the price of gold could rise by another $100 or even $200 per ounce. The next milestone the metal could reach could be $2,500 per ounce if the factors supporting gold's upward trend continue.

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