Gold ring price continues to fall

At nearly 9:00 a.m., Phu Nhuan Jewelry Joint Stock Company listed the price of SJC gold rings at VND55.4 million/tael (buy) - VND56.3 million/tael (sell), down VND100,000/tael each way compared to the end of October 3.

Saigon Jewelry Company Limited reduced 100,000 VND/tael each way, to 55.45 million VND/tael (buy) - 56.5 million VND/tael (sell).

Regarding the price of SJC gold bars, Saigon Jewelry Company Limited set it at 68.25 million VND/tael (buy) - 68.95 million VND/tael (sell), an increase of 50,000 VND/tael each way. Meanwhile, some other businesses kept the same price, commonly trading at 68.27-68.3 million VND/tael (buy) - 68.97-69 million VND/tael (sell).

Yesterday, the price of gold rings decreased by 200,000-500,000 VND per tael while the price of gold bars decreased slightly. Trading in the market was not active.

In the international market, last night's trading session, gold price decreased by 0.1%, down to 1,825 USD/ounce in the context of the price of this precious metal being under pressure when the USD price increased sharply and the yield of US Treasury bonds increased because the US Federal Reserve is likely to keep interest rates high in the coming time to control inflation.

At nearly 9:00 a.m. this morning, the trading price was at 1,822 USD/ounce, converted to nearly 15 million VND/tael lower than the domestic gold price.

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