On the afternoon of February 10th (or the 1st day of Tet), the domestic gold market in many places suspends trading. Large gold banks and businesses are closed for Tet. The price of SJC gold varies among businesses during the Tet days.
Some SJC gold trading companies buy at VND 76.7 million per tael and sell at VND 78.9 million per tael, which remains stable compared to previous days. Some gold shops in Ho Chi Minh City trade SJC gold at a much lower price, buying at VND 77.5 million per tael and selling at VND 77.9 million per tael, a decrease of approximately VND 200,000 per tael compared to yesterday.
The price of SJC gold decreased significantly on the first day of Tet, with a large difference among gold shops
The owner of a gold shop in Ho Chi Minh City said that there is a large difference in the price of SJC gold among gold shops and large gold businesses. However, in reality, when trading in large quantities, there is always an agreement and price negotiation instead of strictly following the listed price. “Only individual customers who buy and sell in small quantities apply the listed price, and there is a large difference of over VND 2 million per tael between the buying and selling prices of SJC gold,” the owner of the gold shop said.
It is worth noting that, according to observations by reporters, only the price of SJC gold has a difference between large gold businesses and gold shops, while the prices of rings and 24K gold jewelry have little difference. On the afternoon of the first day of Tet, the prices of rings and 24K gold jewelry were traded at VND 63.4 million per tael when buying and VND 64.6 million per tael when selling, maintaining a high level compared to the previous day.
Currently, the price of SJC gold is about VND 14 million per tael higher than the price of rings. In the international market, the price of gold is being traded at around USD 2,025 per ounce, a significant decrease of about tens of USD per ounce compared to yesterday. With this development, the world gold price converted according to the listed exchange rate is about VND 60 million per tael, which is lower than rings by VND 4.6 million per tael and lower than SJC gold by approximately VND 19 million per tael, reaching a record level in recent days.
