Gold ring price drops sharply, gold bars up to 84 million VND/tael

SJC gold bar price up to 84 million VND/tael - Photo: QUANG DINH

SJC gold ring and gold bar prices move in opposite directions

SJC Company today listed the price of SJC gold bars at 84 million VND/tael, buying at 82 million VND/tael. The difference between buying and selling prices is up to 2 million VND/tael.

Meanwhile, the selling price of 9999 gold rings at SJC Company decreased by 100,000 VND/tael, to 82.9 million VND/tael. The buying price also decreased accordingly, to 81.4 million VND/tael.

Bao Tin Minh Chau Company today also sharply reduced the selling price of gold rings from 83.44 million VND/tael to 82.88 million VND/tael. The buying price also decreased to 81.88 million VND/tael.

At DOJI Company, the selling price of 9999 gold rings decreased by 450,000 VND/tael, to 82.9 million VND/tael, the buying price is 81.9 million VND/tael.

If calculated in the past 2 days, the price of 9999 gold rings at DOJI Company has decreased by 550,000 VND/tael.

Strong selling pressure, gold price drops sharply

In recent days, the world gold price has fluctuated very strongly. Last night, there was a time when the world gold price fell below 2,630 USD/ounce, then bounced back up.

This afternoon, the world gold price increased slightly to 2,644 USD/ounce. Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 78.96 million VND/tael.

Thus, compared to the converted world gold price, the price of SJC gold bars is 5.04 million VND/tael higher, while the price of gold rings is about 2.94 million VND/tael higher.

Currently, investors have switched from holding to selling.

Therefore, the amount of gold sold on the market is quite abundant but buyers are cautious, unlike last week when the gold price went up, most of them just bought.

Expert Tran Duy Phuong predicts that the decline in world gold prices may not stop. The world gold price may decrease by about 100 USD/ounce, to 2,550 USD/ounce before recovering.

If this possibility occurs, the price of SJC gold bars could drop to 81.5 million VND/tael, while the price of 9999 gold rings could drop to 77 million VND/tael.

Please read the updated domestic gold price developments HERE.

Source: https://tuoitre.vn/gia-vang-nhan-giam-manh-vang-mieng-len-84-trieu-dong-luong-20241001155615838.htm