It plunged sharply as soon as the door opened.

(NLĐO) - Gold prices unexpectedly fell today as trading opened on the international market, dragging down the prices of gold bars and gold rings as well.

On the morning of January 27th, world gold prices plummeted by approximately $16 per ounce to $2,756 per ounce right at the opening of the new trading week. This price movement occurred after the precious metal had experienced a series of consecutive weekly gains, nearing its all-time high of $2,790 per ounce, reached in October 2024.

Analysts predict that gold prices may fall in the short term due to profit-taking pressure from investors. However, Kitco's weekly gold price trend survey indicates that the precious metal is still projected to rise, supported by the weakening US dollar. The US dollar index is currently at its lowest level in over a month, falling to 107.5 points.

Gold prices this week are awaiting developments from the policy meetings of central banks in various countries, including the US and Europe.

Gold prices fell sharply at the start of the new trading week.

The downward trend of precious metals on the international market has caused domestic gold prices to fall sharply. Today, January 27th (the 28th day of the Lunar New Year), the domestic gold market temporarily suspended trading at some commercial banks and businesses. The price of SJC gold bars was traded at some businesses at 87.2 million VND/ounce for buying and 88.2 million VND/ounce for selling, a sharp decrease of about 600,000 VND per ounce compared to yesterday.

Some gold shops in Ho Chi Minh City are quoting a buying price of 87 million VND/ounce and a selling price of 87.8 million VND/ounce for gold bars. Prices for gold bars are starting to show a difference between businesses during the Tet holiday.

Similarly, the prices of gold rings and 99.99% pure gold jewelry have also decreased. Currently, gold rings are trading around 87.1 million VND/ounce for buying and 88.2 million VND/ounce for selling, a decrease of about 300,000 VND per ounce compared to the previous day. Some gold shops are selling gold rings for as low as 86.5 million VND/ounce. The price of gold rings is still largely determined by the regulations of the businesses and gold shops.

The demand for gold jewelry for beautification and as gifts for relatives and friends increases significantly in the days leading up to Tet (Lunar New Year). While some major brands like SJC close for the holiday, people are turning to shopping at many gold shops and jewelry stores.

Source: https://nld.com.vn/gia-vang-hom-nay-27-1-lao-doc-manh-khi-vua-mo-cua-196250127094439114.htm