Gold Price Dives Suddenly, Reaches 81 Million VND per Tael

As reported, on the morning of March 2, the SJC gold price surged by VND 1.5 million per tael, officially setting a new peak of VND 81 million per tael. However, this price level only lasted a few hours, and in the afternoon session, SJC gold made a sharp decline.

By the end of the afternoon session on March 2, the selling price of SJC gold has dropped to nearly VND 80 million per tael.

Specifically, at Sai Gon Jewelry, the selling price of SJC gold is listed at VND 77.8-80.3 million per tael, a decrease of VND 700,000 per tael compared to the record level set this morning.

Similarly, at DOJI Group, the price of SJC gold has been adjusted by about VND 800,000 per tael down to 77.65-80.25 million per tael. Bao Tin Minh Chau listed at 77.85-80.15 million per tael.

Meanwhile, the price of 24k smooth gold rings is still at a record level. Currently, Bao Tin Minh Chau applies prices of 66.78-67.98 million per tael. Meanwhile, DOJI listed at 66.6-67.8 million per tael. Sai Gon Jewelry listed at 65.3-66.6 million per tael.

Therefore, most buyers of gold on the occasion of Thanh Tai’s birthday two weeks ago have made a profit by now. In the past 2 weeks, the prices of SJC gold and 24k smooth gold rings have both increased by over VND 2 million per tael.

In the international market, the price of gold is currently standing at $2,083 per ounce. Converted according to the USD/VND exchange rate at commercial banks, the international gold price is equivalent to only VND 62.5 million per tael (excluding tax and fees). Meanwhile, estimated at the USD exchange rate on the free market, the international gold price is currently equivalent to about VND 64.5 million per tael (excluding tax and fees).

Domestic gold prices still maintain a large gap with international gold prices, in the context that management agencies are preparing measures to stabilize the gold market. Currently, the State Bank is coordinating with the Ministry of Public Security to conduct inspections, inspections, and evaluations of the gold market, especially the gold bullion market, and unify with the Ministry of Public Security the solutions to manage the gold market in the first quarter of 2024 and soon complete the evaluation report, summarize the implementation of Decree 24 to submit to the Government in the coming time.

As reported, on the morning of March 2, the SJC gold price surged by VND 1.5 million per tael, officially setting a new peak of VND 81 million per tael. However, this price level only lasted a few hours, and in the afternoon session, SJC gold made a sharp decline.

By the end of the afternoon session on March 2, the selling price of SJC gold has dropped to nearly VND 80 million per tael.

Specifically, at Sai Gon Jewelry, the selling price of SJC gold is listed at VND 77.8-80.3 million per tael, a decrease of VND 700,000 per tael compared to the record level set this morning.

Similarly, at DOJI Group, the price of SJC gold has been adjusted by about VND 800,000 per tael down to 77.65-80.25 million per tael. Bao Tin Minh Chau listed at 77.85-80.15 million per tael.

Meanwhile, the price of 24k smooth gold rings is still at a record level. Currently, Bao Tin Minh Chau applies prices of 66.78-67.98 million per tael. Meanwhile, DOJI listed at 66.6-67.8 million per tael. Sai Gon Jewelry listed at 65.3-66.6 million per tael.

Therefore, most buyers of gold on the occasion of Thanh Tai’s birthday two weeks ago have made a profit by now. In the past 2 weeks, the prices of SJC gold and 24k smooth gold rings have both increased by over VND 2 million per tael.

In the international market, the price of gold is currently standing at $2,083 per ounce. Converted according to the USD/VND exchange rate at commercial banks, the international gold price is equivalent to only VND 62.5 million per tael (excluding tax and fees). Meanwhile, estimated at the USD exchange rate on the free market, the international gold price is currently equivalent to about VND 64.5 million per tael (excluding tax and fees).

Domestic gold prices still maintain a large gap with international gold prices, in the context that management agencies are preparing measures to stabilize the gold market. Currently, the State Bank is coordinating with the Ministry of Public Security to conduct inspections, inspections, and evaluations of the gold market, especially the gold bullion market, and unify with the Ministry of Public Security the solutions to manage the gold market in the first quarter of 2024 and soon complete the evaluation report, summarize the implementation of Decree 24 to submit to the Government in the coming time.