ANTD.VN - Gold ring prices have fallen sharply for two consecutive sessions, dropping below 83 million VND/ounce, while SJC gold also adjusted down by 500,000 VND per ounce this morning.
At the opening of trading on October 10th, domestic gold prices simultaneously adjusted sharply downwards.
SJC gold is being sold at 84.5 million VND/ounce at the four state-owned commercial banks ( Agribank , BIDV, Vietcombank, and VietinBank), SJC Company, and other major gold trading businesses, a decrease of 500,000 VND per ounce compared to yesterday's session. On the buying side, businesses are listing prices 2 million VND lower than the selling price, at 82.5 million VND/ounce.
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Gold ring prices fell sharply for two consecutive sessions. |
Similarly, the price of gold rings also dropped quite sharply, with a decrease of up to 300,000-400,000 VND per tael in the early morning. Overall, over two consecutive days of decline, gold rings from various brands have lost approximately 700,000 VND per tael.
Accordingly, the buying and selling prices of some popular gold ring brands are listed as follows:
Plain gold rings from Thang Long Gold by Bao Tin Minh Chau are priced at 81.88 - 82.88 million VND/ounce; Phu Quy 999.9 gold rings are priced at 81.95 - 82.90 million VND/ounce;
DOJI Hung Thinh Vuong gold rings are priced at 81.90 – 82.90 million VND/ounce; SJC 999.99 gold rings are priced at 81.60 – 82.90 million VND/ounce.
Globally , after continuously declining since the beginning of the month, the spot price of gold briefly approached the $2,600/ounce mark during last night's trading session (Vietnam time). At 9:30 AM Vietnam time, the precious metal was trading around $2,614/ounce.
The gold market has confirmed it is entering a period of periodic correction during this multi-year bull run. According to experts, these price corrections are typical and predictable for any asset class and often create opportunities for investors to enter or expand their positions.
As for gold, since August, it has risen significantly without any noticeable correction until now. Breaking above the $2,700 mark appears to have triggered a long-awaited pullback.
Meanwhile, the long-term fundamentals for gold remain strong, namely global economic instability, concerns about inflation, and geopolitical tensions.
Source: https://www.anninhthudo.vn/gia-vang-nhan-mat-moc-83-trieu-dongluong-vang-sjc-cung-quay-dau-giam-post592151.antd
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