World gold prices and 99.99 gold prices plummeted after Mr. Trump won the election

(NLDO) – The world gold price plummeted, causing the price of 99.99 gold rings of all kinds to fall below the 88 million VND/tael mark.

At 3:00 p.m. on November 6, right after the US presidential election results were announced with Donald Trump winning, gold prices had unexpected developments.

Many investors said the price of gold is "plunging" when on the international market, the precious metal dropped more than 20 USD/ounce to 2,724 USD/ounce.

Gold prices fell sharply after many days at a high of around 2,740 - 2,745 USD/ounce. Profit-taking pressure also appeared when gold prices "turned around" and plummeted.

Due to the influence of world prices, the price of 99.99 gold rings of all kinds has also continued to decrease continuously in recent days. SJC Company listed the price of gold rings at only 86.4 million VND/tael for buying, 87.9 million VND/tael for selling, down 300,000 VND compared to the morning and down a total of 600,000 VND/tael compared to yesterday.

Gold ring price suddenly dropped sharply this afternoon

If calculated from the highest price of gold rings at 89.5 million VND last week, each tael of gold rings has "evaporated" more than 1.5 million VND/tael.

The price of gold rings also has a difference between businesses, PNJ Company sells gold rings for 88.2 million VND/tael; DOJI anchors at a higher level of 88.45 million VND/tael while Mi Hong Company sells at 88 million VND/tael...

Meanwhile, the price of SJC gold bars continues to remain high at around 87 million VND/tael for buying and 89 million VND/tael for selling, unchanged from yesterday. This development makes the price of SJC gold bars far surpass the price of 99.99 gold rings.

Previously, some analysts said that if Donald Trump became the US President, the price of gold would continue to increase, but after the election results were announced, they showed fluctuations in the opposite direction. Many investors expressed surprise when the world gold price plummeted.

Gold ring price falls below 88 million VND/tael

Gold expert Tran Duy Phuong analyzed his statistics in the last 5 US presidential elections, the price of gold always dropped sharply after the results, with a decrease of up to 100 - 200 USD/ounce. However, with Donald Trump's policy of maintaining low interest rates, it will put pressure on the US Federal Reserve (FED) to cut interest rates faster, thereby benefiting the price of gold.

"Mr. Trump's policy is to impose strong tariffs on countries, especially goods from China, so the possibility of gold prices also being supported to increase.

Therefore, gold prices may decrease in the short term but in the long term it is still an upward trend" - Mr. Phuong predicted.

Currently, the world gold price converted according to the listed exchange rate is about 83.5 million VND/tael.

Source: https://nld.com.vn/gia-vang-the-gioi-lan-vang-9999-lao-doc-sau-khi-ong-trump-thang-cu-19624110615094655.htm