Gold buyers suffer heavy losses.

This morning (July 21st), the price of plain gold rings remained at 77.1 million VND/ounce, while the price of SJC gold bars was 80 million VND/ounce. The continuous fluctuations in gold prices over the past week have resulted in a loss of 1.2 million VND/ounce for buyers.

At the opening of the trading session, Saigon Jewelry Company listed the price of plain round gold rings at 75.7 - 77.1 million VND/ounce, unchanged from the trading session on July 20th.

In the Hanoi market, Bao Tin Minh Chau Company listed the highest price for plain gold rings compared to other brands, at 75.93 - 77.23 million VND/ounce for buying and selling.

Domestic gold prices have stabilized due to the sharp drop in global gold prices. After reaching a record high of $2,742 per ounce (equivalent to VND 77 million per tael), world gold prices fell to $2,400 per ounce (equivalent to VND 74.5 million per tael).

The difference between the buying and selling price of plain gold rings is 1.3 - 1.5 million VND/ounce (depending on the gold brand). The fluctuating gold prices over the past week have resulted in a loss of 1.2 million VND/ounce for gold buyers.

The price of plain gold rings is 77.1 million VND/ounce, while the price of SJC gold is 80 million VND/ounce. (Photo: BTMC).

For SJC gold bars, the four state-owned banks ( Agribank , BIDV, Vietcombank, VietinBank) and businesses simultaneously listed buying and selling prices at 78.5 - 80 million VND/ounce.

After six weeks of stagnation, SJC gold prices experienced a volatile week, rising by up to 3 million VND per tael. Despite the sharp increase in SJC gold prices, people are still finding it difficult to buy. Businesses have run out of SJC gold to sell, and state-owned banks are selling gold online.

In the currency market, July 21st falls on a weekend, and the State Bank of Vietnam maintained the central exchange rate at 24,246 VND/USD. At commercial banks, the USD exchange rate hovered around 25,158 - 25,458 VND/USD.

Source: https://baoquangninh.vn/nguoi-mua-vang-lo-nang-3309932.html