World gold prices plummet.

World gold prices plummet - Screenshot

Gold prices have fallen because they rose too sharply.

This reduction is equivalent to 1.13 million VND per tael.

At 11:30 PM tonight, the world gold price was only $2,712.6 per ounce. Converted using the exchange rate listed at banks, this is equivalent to approximately 83.27 million VND per tael (unit of weight for gold).

World gold prices fell due to profit-taking pressure after gold prices had risen continuously for the past 20 days, increasing by a total of $130/ounce, equivalent to 4 million VND/ounce, and repeatedly setting all-time records.

In addition, anecdotal information surrounding the upcoming US election has caused gold prices to plummet.

Rising global gold prices have driven domestic gold prices up significantly. Today, SJC Company and the Big4 banks listed the selling price of gold bars at 89 million VND per tael.

The buying price at SJC Company reached 87 million VND per tael.

Meanwhile, the selling price of 9999 gold rings under the SJC brand at SJC Company reached 88.5 million VND/ounce, an increase of 1.3 million VND/ounce compared to yesterday and a total increase of 2.4 million VND/ounce in just two days.

At Bao Tin Minh Chau Company, the selling price of gold rings surged from 87.38 million VND/ounce to 89 million VND/ounce, equivalent to an increase of 1.62 million VND/ounce. The difference between the buying and selling price was very large, reaching 2 million VND/ounce.

Similarly, DOJI Company also increased the selling price of 9999 gold rings from 87.2 million VND/ounce to 89 million VND/ounce, equivalent to an increase of 1.8 million VND/ounce. The buying price remains at 88 million VND/ounce.

Thus, after many days of chasing each other, the price of 9999 gold rings and SJC gold bars have once again narrowed the gap, with some gold brands even selling gold rings at the same price as SJC gold bars.

Domestic gold prices are expected to fluctuate significantly.

Compared to the converted world gold price, the domestic gold price is currently 5.73 million VND/ounce higher.

It is predicted that if world gold prices continue to plummet sharply, domestic gold prices will also fall tomorrow morning.

However, even though gold prices have fallen, buying gold remains very difficult, especially gold rings, because the supply on the market is very scarce.

Meanwhile, if you want to buy SJC gold bars, you have to order online, but even then it's difficult to buy them due to limited quantities.

Please see the latest updates on domestic gold prices HERE.

Source: https://tuoitre.vn/gia-vang-the-gioi-roi-thang-dung-20241023235028964.htm