Updated as of 4:30 p.m., SJC gold prices have reversed and increased by VND 200-400 thousand/tael. At Saigon Precious Metals, SJC gold prices are at VND 79.4-81.4 million/tael, an increase of VND 400 thousand/tael in both buying and selling directions compared to the end of the morning session. However, compared to yesterday, gold sheet prices here are still lower by VND 300 thousand/tael.
Other businesses have also increased by about VND 200-300 thousand/tael for gold sheet prices compared to this morning. In which, DOJI Group increased by VND 200 thousand/tael to VND 79.3-81.3 million/tael. Bao Tin Minh Chau listed at VND 79.5-81.4 million/tael.
The price of plain gold rings continues to decline sharply. Only today, many brands have reduced the prices of this gold type by 500-600 thousand/tael.
Updated as of 4:30 p.m.
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Updated as of 10:30 a.m., domestic gold prices continue to plummet, down 200-500 thousand/tael compared to the early morning.
Saigon Precious Metals decreased SJC gold prices by an additional 500 thousand/tael to VND 79.0-81.0 million/tael. Plain gold ring prices here also decreased by another 200 thousand/tael to VND 67.25-68.45 million/tael.
DOJI Group also adjusted SJC gold prices to VND 78.9-80.9 million/tael. Plain gold ring prices here sharply decreased to VND 67.85-69.05 million/tael.
Updated as of 10:30 a.m.
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Thus, compared to the peak level established two weeks ago, SJC gold prices have decreased by 1.5 million VND/tael, while plain gold ring prices have decreased by about 2.5 million VND/tael. Investors who bought at the peak level and sold at this time will suffer a loss of about 3 million VND/tael.
At 8:30 a.m., at Saigon Precious Metals, SJC gold prices are at VND 79.5-81.5 million/tael, an increase of 300 thousand VND/tael for buying and a decrease of 200 thousand VND/tael for selling. Plain round 24k gold prices are at VND 67.45-68.65 million, a decrease of 150 thousand VND/tael compared to the previous week.
At Bao Tin Minh Chau, SJC gold prices at the opening are at VND 79.6-81.45 million/tael. Plain gold ring prices are at 68.13-69.38 million VND/tael. Both types of gold here remain unchanged compared to the previous trading session.
DOJI Group also maintains gold prices when opening this morning, currently listing SJC gold prices at VND 79.4-81.4 million/tael, and plain 9999 gold at VND 68.1-69.4 million/tael.
Phu Nhuan Precious Metals (PNJ) decreased by 300 thousand/tael in both buying and selling directions to VND 79.4-81.4 million/tael. Meanwhile, plain gold rings remain at 67.75-68.7 million VND/tael.
At the beginning of this week’s trading session in the U.S. market, spot gold prices adjusted quite strongly, down by $20/ounce to $2,152/ounce. Converted at the USD exchange rate at banks, the world gold price is equivalent to 64.5 million VND/tael, while converted at the USD exchange rate on the free market is equivalent to 66.5 million VND/tael.
11 analysts participated in Kitco News’ recent Gold Survey, and 46% of Wall Street respondents expect gold prices to either decline or remain sideways this week. Only 27% forecast a neutral price increase.
Meanwhile, 194 votes were cast in Kitco’s online polls, with most Main Street investors still predicting gold prices will rise this week. 110 individual traders, accounting for 56%, expect gold to rise. 54 others, equivalent to 29%, predict lower prices; while 30 respondents, equivalent to 15%, have a neutral view of the short-term prospects for gold.
