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SJC gold and ring gold prices continue to plummet

Người Lao ĐộngNgười Lao Động24/05/2024


At 9:00 a.m. on May 24, SJC Company listed the buying price of SJC gold bars at 87.5 million VND/tael and the selling price at 89.5 million VND/tael, down another half million VND compared to yesterday.

PNJ Company sells SJC gold bars for 89.4 million VND/tael while DOJI Group sells at 89.3 million VND/tael.

The price of 24K gold rings and jewelry of all kinds dropped to 74.8 million VND/tael for buying and 76.4 million VND/tael for selling, down 400,000 VND compared to yesterday.

Giá vàng SJC, vàng nhẫn tiếp tục lao dốc- Ảnh 1.

Domestic gold prices continued to fall this morning. Photo: Hoang Trieu

Domestic gold prices have decreased for the third consecutive day. From the peak of VND92.4 million/tael, each tael of SJC gold bar has "evaporated" nearly VND3 million.

Gold prices in the domestic market today plummeted following the downward trend of world prices. In the international market, the precious metal retreated to around 2,326 USD/ounce, down more than 40 USD/ounce compared to the previous session.

According to analysts, the world gold price plummeted when the market reduced expectations for the US Federal Reserve (FED) to cut interest rates. The USD index increased sharply to 105.09 points. Experts from UOB Group predicted that the FED will start cutting interest rates in September, and there may be only 2 interest rate cuts this year, in September and November 2024.

In the domestic market, the State Bank announced the inspection of banks and gold trading enterprises, focusing on the inspection of compliance with legal regulations on gold trading activities; on anti-money laundering; on accounting regime, preparation and use of invoices and documents; on declaration and implementation of tax obligations...

The inspection period is from January 1, 2020 to May 15, 2024. If necessary, the inspection can be conducted before or after the above period.



Source: https://nld.com.vn/gia-vang-sjc-vang-nhan-tiep-tuc-lao-doc-196240524094150356.htm

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