Gold ring price suddenly dropped

This morning (August 20), the price of gold rings suddenly turned down after reaching a peak but still hovered around the 78 million VND/tael mark. Meanwhile, the price of SJC gold bars stood at the 80 million VND/tael mark.

Saigon Jewelry Company listed price gold ring at 76.8 - 78.2 million VND/tael for buying and selling, down 200,000 VND/tael compared to yesterday morning.

Bao Tin Minh Chau listed gold price plain round ring 76.93 - 78.23 million VND/tael for buying and selling, down 150,000 VND/tael.

DOJI Group and PNJ listed the price of gold rings at 76.85 - 78.2 million VND/tael and 76.85 - 78.2 million VND/tael, respectively.

Gold ring price turns down (photo: Nhu Y).

Meanwhile, the price gold bar SJC remains unchanged, continuing at 78 - 80 million VND/tael for buying and selling.

At the same time, gold price world at 2,504 USD/ounce, up 1 USD/ounce compared to yesterday morning. The world gold price is equivalent to nearly 76 million VND/tael, excluding taxes and fees.

Currently, the price of SJC gold bars is nearly 4 million VND/tael higher than the world price. According to Bank The State and this unit will continue to take measures to narrow the gap between domestic and world gold prices.

However, many experts believe that the sale of "stabilized" gold has basically stabilized as the gap with world prices has narrowed, buyer demand has gradually decreased, and the State Bank should return gold bars to the self-regulating market.

Up to now, the State Bank is still in the process of amending Decree 24 on gold market management.

In the currency market, August 20, State Bank The central exchange rate is listed at 24,261 VND/USD, up 7 VND/USD compared to yesterday morning. At commercial banks, prices USD around 24,790 - 25,160 VND/USD buy - sell.

Source: https://baoquangninh.vn/gia-vang-nhan-bat-ngo-giam-3314777.html