| Today, SJC gold prices reversed course and fell by 1.3 million VND/ounce, while 999.9 gold rings surged. Domestic gold prices decreased further by 400,000 VND, with 999.9 gold rings selling for 76.98 million VND/ounce. |
Gold price domestic
At noon on April 18th, the price of SJC gold continued its downward trend. Currently, the price of SJC gold at Phu Nhuan Jewelry Joint Stock Company is trading around 81.70 - 83.70 million VND/ounce, a decrease of 250,000 VND/ounce for both buying and selling prices compared to yesterday.
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The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 81.75 - 83.65 million VND/ounce, a decrease of 50,000 VND/ounce for both buying and selling prices compared to yesterday.
At Phu Quy Group, the price of SJC gold bars is currently trading around 81.70 - 83.70 million VND/ounce for buying and selling, a decrease of 50,000 VND/ounce for both buying and selling prices compared to yesterday.
The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 81.75 - 83.65 million VND/ounce, a decrease of 50,000 VND/ounce for both buying and selling prices compared to the previous session.
Following the downward trend of SJC gold, the price of 999.9 gold rings today also decreased across different businesses. Specifically, the price of 999.9 (24k) gold rings, Thang Long gold bars, and plain gold rings at Bao Tin Minh Chau Company traded at 75.03 - 76.73 million VND/ounce for buying and selling, a decrease of 250,000 VND/ounce in both buying and selling prices compared to yesterday.
999.9 (24k) Thang Long gold jewelry is trading around 75.15 - 76.35 million VND/ounce, down 150,000 VND/ounce for both buying and selling prices compared to yesterday.
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| Gold prices traded at Bao Tin Manh Hai |
Similarly, gold rings from Thang Long Gold Dragon and Kim Gia Bao, manufactured by Bao Tin Manh Hai Company, are trading around 74.93 - 76.63 million VND/ounce (buy-sell), a decrease of 250,000 VND/ounce in both buying and selling prices compared to yesterday.
The price of 999.9 gold is around 74.05 - 76.25 million VND/ounce, down 250,000 VND/ounce for both buying and selling compared to yesterday's session. The price of 99.9 gold is currently fluctuating around 73.95 - 76.15 million VND/ounce, down 150,000 VND/ounce for both buying and selling compared to yesterday's session.
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| Gold prices traded at Phu Quy Group |
At Phu Quy Group, Phu Quy 999.9 gold rings and Phu Quy 999.9 gold God of Wealth rings are trading around 74.90 - 76.70 million VND/ounce, down 300,000 VND/ounce for both buying and selling prices compared to yesterday.
24K 999.9 gold is currently trading around 74.40 - 76.40 million VND/ounce, down 50,000 VND/ounce for both buying and selling prices compared to yesterday.
World gold prices
The spot price of gold in the global market this afternoon, Vietnam time, was recorded at $2,374 per ounce. Today's gold price is down $22.1 per ounce compared to yesterday's price.
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| World gold price chart this afternoon |
Based on the current exchange rate at Vietcombank , the world gold price is approximately over 71 million VND/ounce (excluding taxes and fees). Therefore, the price of SJC gold bars is still about 11 million VND/ounce higher than the international gold price.
Gold prices fell today as pressure from fading hopes of a US interest rate cut overshadowed gains from safe-haven demand stemming from geopolitical instability in the Middle East. The precious metal will only reverse its decline if central banks stop buying or investors return to riskier assets.
However, demand for gold from Asia remains very strong. According to Bloomberg, Americans rushed to sell gold as prices soared, while Chinese buyers flocked to purchase it. In addition, the upward momentum of gold prices is being restrained by the strengthening US dollar globally.
Analysts at Citi expect gold prices to regularly test and surpass the $2,500/ounce mark in the second half of 2024 and reach $3,000/ounce within the next 6-18 months.
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