World gold prices plummet dramatically.

After nine consecutive weeks of increases, world gold prices plummeted sharply tonight, February 27th, at one point falling to as low as $2,870 per ounce.

World gold prices plummet - Screenshot

Thus, the world gold price has plummeted by $40/ounce, equivalent to 1.24 million VND/ounce. Compared to its all-time high of $2,956/ounce, the world gold price has fallen by $86/ounce, equivalent to 2.7 million VND/ounce.

At current prices, converted using the exchange rate listed at banks, the world gold price is equivalent to 89.06 million VND per tael.

Expert Tran Duy Phuong predicts that world gold prices have entered a downward trend after 9 consecutive weeks of increases. This trend could last 5-6 weeks, with a potential drop to $2,727 per ounce, equivalent to a 7.7% decrease from its peak.

Meanwhile, according to analyses, world gold prices are still being affected by profit-taking selling pressure, and are weakening due to signs of decreased demand for gold from China because of high prices.

Investors are also awaiting the US inflation report, due out this week, and President Donald Trump's next steps regarding tariffs.

Domestic gold prices today decreased by only 100,000 VND/ounce, to 91.2 million VND/ounce. The buying price fell to 88.9 million VND/ounce. The price of 9999 gold rings also decreased by 100,000 VND/ounce, to 91 million VND/ounce (selling price), and 88.9 million VND/ounce (buying price).

At PNJ Company, the selling price of 9999 gold rings also decreased by 100,000 VND/ounce, to 91.2 million VND/ounce, while the buying price remained at 90.3 million VND/ounce. Bao Tin Minh Chau Company reduced the price of 9999 gold rings to 91.7 million VND/ounce, while the buying price increased to 90.15 million VND/ounce.

At Mi Hong gold shop, the selling price of SJC gold bars is 91.4 million VND/ounce, and the buying price is 90.5 million VND/ounce. The difference between the buying and selling price of gold has narrowed significantly. At Mi Hong gold shop, for example, the difference is only 1 million VND/ounce.

Meanwhile, at some other major gold companies, the price difference ranges from 1.5 to 2.3 million VND per tael, whereas in previous days the difference was as high as 4 million VND per tael.

Compared to the converted world gold price, the domestic gold price is currently about 2.14 million VND/ounce higher.

Please follow the developments of domestic gold prices here.

Source: https://tuoitre.vn/gia-vang-the-gioi-roi-het-hon-20250227224302729.htm