The price of SJC gold, after rising sharply in the morning to 79 million dong/tael, has turned sharply downwards in the afternoon session.
At 14:00, Phu Nhuan Jewelry Company listed the price of gold at 76.5-78.7 million dong/tael, a decrease of 300 thousand dong/tael compared to this morning. Saigon Jewelry Company also lowered its price to 76.5-78.7 million dong/tael, a decrease of 300 thousand dong/tael.
Similarly, Bao Tin Minh Chau also decreased its price to 76.6-78.45 million dong/tael, a decrease of 400 thousand dong/tael. DOJI Corporation decreased its price to 76.45-78.65 million dong/tael, a decrease of 300 thousand dong/tael.
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At 9:00 am at Phu Nhuan Jewelry Company, the SJC gold price was listed at 76.8-79.0 million dong/tael, an increase of 300 thousand dong/tael compared to the end of yesterday (February 22). Earlier, during the session on February 22, the price of gold at this place also increased sharply by 700 thousand dong/tael.
Similarly, at Saigon Jewelry Company, the price of SJC gold continued to increase by about 400 thousand dong/tael to 76.8-79.0 million dong/tael this morning. DOJI Corporation listed its price at 76.75-78.95 million dong/tael, Bao Tin Minh Chau applied a price of 76.95-78.85 million dong/tael.
The price of smooth gold rings tends to be flat compared to yesterday. The price difference between brands is quite significant. Currently, Bao Tin Minh Chau and DOJI are selling 24k smooth gold rings at around 65.5 million dong/tael. Meanwhile, Saigon Jewelry Company and Phu Nhuan Jewelry Company listed their prices at around 64.7-64.8 million dong/tael.
Internationally, the spot gold price is at 2,025 USD/ounce, equivalent to about 61 million dong/tael when converted at the VND/USD exchange rate, excluding taxes and fees. The price difference between international gold and domestic gold is quite large.
Recently, Deputy Prime Minister Le Minh Khai has asked the State Bank of Vietnam to seriously implement the tasks assigned by the Government for managing the gold market. In addition to requesting the State Bank of Vietnam to quickly sum up Decree 24/2012 on gold business activities, the Deputy Prime Minister also asked this agency to closely coordinate with the Ministry of Public Security and relevant agencies to urgently inspect and closely monitor the gold market as well as the activities of businesses, stores, distributors, and gold trading…
These actions are aimed at ensuring the stability and safety of the gold market, contributing to limiting the transformation of the economy into gold, ensuring financial security and national currency security.
The Deputy Prime Minister requested the State Bank of Vietnam to report the results of the inspection of the gold market to the Prime Minister in this month of February.
