On the morning of August 12th, the price of SJC gold bars, as listed by Saigon Jewelry Company (SJC), remained stable compared to yesterday, at 122.7 million VND/ounce for buying and 123.9 million VND/ounce for selling.
Meanwhile, the price of 99.99% pure gold rings and jewelry saw unexpected fluctuations, with businesses adjusting it to around 116.5 million VND/ounce for buying and 119 million VND/ounce for selling - a further decrease of 400,000 VND compared to yesterday.
Thus, in just two days, the price of gold rings has dropped by nearly 1 million VND per tael, falling faster than the price of SJC gold bars.
The price of 99.99% pure gold rings is falling rapidly in line with global prices.
On the international market, gold prices fell sharply to $3,350 per ounce, a further drop of approximately $20 per ounce compared to the previous session.
Gold prices fell as the US dollar index (DXY) continued to recover, trading in the 98.4 point range this morning (Vietnam time).
SJC gold bar prices are 17 million VND higher than world prices.
Investors sold off gold after US President Donald Trump announced on social media that gold would not be subject to import tariffs.
Earlier, there were reports that the US might impose high tariffs on imported 100-ounce and 1-kilogram gold bars. Concerns about gold being subject to tariffs caused the precious metal to surge over the weekend.
Currently, the world gold price, converted at the listed exchange rate, is approximately 106.7 million VND/ounce, which is 17.2 million VND/ounce lower than SJC gold bars. This is a very high difference between domestic and world gold prices in recent months.
Source: https://nld.com.vn/gia-vang-trong-nuoc-giam-nhanh-nhieu-nguoi-chua-kip-ban-196250812095557943.htm
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