Domestic gold prices fall to a 4-month low.

The price of SJC gold bars fell sharply below 161 million VND/ounce during the morning trading session on May 27. Photo: Duc Anh .

Entering this morning's trading session (May 27th), a weakening trend prevailed across the entire domestic gold bullion and gold ring market. The decrease was mainly around 1 million VND per tael.

Specifically, Saigon Jewelry Company (SJC) currently lists the price of gold bars at 157.7 - 160.7 million VND/ounce (buy - sell), a decrease of 800,000 VND compared to the closing price of the previous session.

The price range of 160.7 million VND/ounce is also being applied by other major businesses such as Phu Nhuan Jewelry Joint Stock Company (PNJ), DOJI Group, Phu Quy Group, Bao Tin Minh Chau, Bao Tin Manh Hai, Mi Hong Company, etc., for gold bars.

Based on the daily price chart, with strong trading activity this morning, the price of gold bars has officially broken through its 4-month low. This development means that all gold buyers from the end of January until now are currently experiencing losses.

SJC gold bar prices plummet to a 4-month low.
Source: SJC.
Label		March 29	March 30th	March 31	1/4	2/4	3/4	4/4	5/4	April 6th	7/4	April 8th	April 9th	April 10th	April 11th	April 12th	April 13th	April 14th	April 15th	April 16th	April 17th	April 18th	April 19th	April 20th	April 21	April 22nd	April 23	April 24th	April 25th	April 26	April 27	April 28	April 29	April 30th	1/5	2/5	3/5	4/5	5/5	6/5	7/5	8/5	9/5	May 10th	May 11th	May 12th	May 13th	May 14th	May 15th	May 16th	May 17th	May 18th	May 19th	May 20th	May 21st	May 22nd	May 23	May 24th	May 25th	May 26th	May 27th
Purchase price	million VND/ounce	169.8	170.8	171.9	173.7	170	170	171.5	171.5	170.1	169.5	171	168.5	169.7	169.4	169.4	168.5	170	170	167.7	167.5	168.5	168.5	168.3	168.1	167.5	166.7	165.5	166.3	166.3	166.3	164.5	163	163	163	163	163	163.3	162	163	164.5	164.5	164.5	164.5	162.2	162.5	162	162	161	161	161	160.5	160.8	158.5	160.5	159	158.5	158.5	159	158.5	157.7
Selling price		172.8	173.8	174.9	176.7	173.5	173.5	174.5	174.5	173.1	172.5	175	171.5	172.7	172.4	172.4	171.5	173.5	173.5	171.2	171	172	172	171.3	170.6	170	169.2	168	168.8	168.8	168.8	167.5	166	166	166	166	166	166.3	165	166	167.5	167.5	167.5	167.5	165.2	165.5	165	165	164	164	164	163.5	163.8	161.5	163.5	162	161.5	161.5	162	161.5	160.7

Similar to gold bars, the price of gold rings also faced strong downward pressure this morning. Specifically, Phu Quy Group reduced the price of round gold rings by 800,000 VND compared to the previous closing price, currently trading at 157.5 - 160.5 million VND/ounce. This is also the price range for plain round gold rings applied by PNJ and DOJI.

Meanwhile, Bao Tin Minh Chau and Bao Tin Manh Hai are currently pegging the price of gold rings at 157.7 - 160.7 million VND/ounce. Mi Hong Company, on the other hand, is applying a selling price of 158 - 160 million VND/ounce for 999 gold rings.

The decline in this morning's trading session also dragged the price of gold rings down to its lowest level since the end of January, leaving many who bought gold at the peak prices at the end of February with losses of more than 33 million VND per ounce.

Globally , in the current trading session, the spot gold price recorded a slight decrease of nearly $5 compared to the opening price, currently hovering around $4,501 per ounce. This represents a recovery for the commodity, as the world gold price had plummeted to $4,485 per ounce last night.

According to precious metals analysts at Heraeus, gold prices continue to be influenced by rising inflation and changing interest rate expectations, while demand for gold and silver is being reshaped by India's new import tax policy.

Currently, converted to Vietnamese currency (excluding taxes and fees), the world gold price is approximately 143 million VND/ounce, which is nearly 18 million VND/ounce lower than the domestic gold price.

Source: https://znews.vn/gia-vang-trong-nuoc-giam-thung-day-4-thang-post1654587.html