Gold prices fluctuate rapidly, stores have no more gold to sell

Gold price today increases and decreases continuously

Gold prices today, April 25, fluctuated continuously. At 2:30 p.m., Saigon Jewelry Company Limited - SJC listed the SJC gold price at 118 - 120 million VND/tael for buying and selling.

Bao Tin Minh Chau listed SJC gold price at 116 - 119 million VND/tael for buying and selling.

The price of gold rings is also being bought by establishments at 116 million VND/tael and sold at 119 million VND/tael.

Gold prices fluctuate rapidly, but people still rush to buy gold for investment and storage. Photo: Thanh Tuan

Gold prices today were adjusted down by establishments compared to the peak and decreased sharply compared to the opening time of the trading session on the same day.

At opening time, 9:00 a.m. on April 25, Bao Tin Minh Chau sold SJC gold at 119.5 - 121.5 million VND/tael for buying and selling, an increase of 1 million VND/tael for buying and an increase of 500,000 VND/tael for selling compared to the closing price yesterday.

However, as of 2:30 p.m. the same day, the price of SJC gold had been adjusted down by about 3 million VND per tael.

At the same time at 2:30 p.m., the world gold price stood at around 3,3038 USD/ounce. The unpredictable fluctuations in the world gold price were supported by the weakening USD and bargain hunting activities, while the market's attention was still focused on new information about trade policies from major countries.

According to Kyle Rodda, a financial analyst at Capital, this week's sharp moves in gold prices were largely driven by technical factors and headline news. Long-term, the outlook for gold prices remains solid. Buying on dips is a common practice for investors with a long-term view.

The gold rush is still going strong

Gold prices fluctuate constantly, causing the rush to buy gold to not end. On the morning of April 25, the line of people jostling to buy gold continued to stretch out at gold shops.

In the context of demand exceeding supply, some large gold shops in Hanoi have run out of gold to sell. Many shops only have gold rings but no gold bars to serve customers' needs.

This morning, each customer who came to buy gold was only allowed to buy a maximum of 2 taels of gold rings. An employee of a large gold shop on Cau Giay Street, Hanoi, said that just one hour after the shop opened, more than 400 customers had come to get a number to wait for a transaction.

"The line of people lining up to buy gold when the price of gold turned down has not cooled down yet" - said an employee of this store.

Hoang Giang

Source: https://congthuong.vn/gia-vang-tang-giam-chong-mat-cua-hang-khong-con-vang-ban-384835.html