Saigon Jewelry Company listed the price of gold rings at 77.3 – 78.6 million VND per tael for buying and selling.
Bao Tin Minh Chau Jewelry Company listed the price of gold rings at 77.43 – 78.63 million VND per tael.
Doji Group and Phu Quy Company listed the price of gold rings at 77.45 – 78.65 million VND per tael for buying and selling.
Gold ring prices remain firm at a peak after a week. Meanwhile, SJC gold bar prices fell by half a million VND after a week.
Gold ring prices remain above 78 million VND per tael while SJC gold bars decrease.
Major gold businesses and banks listed the buying and selling prices of SJC gold bars at 78.5 – 80.5 million VND per tael.
At the same time, the world gold price was at 2,496 USD/ounce, a decrease of 1 USD/ounce compared to yesterday.
Currently, gold prices are less attractive to investors due to low volatility and fewer “price spikes” than previous periods. Many investors are turning to other channels instead of gold at this time.
In the foreign exchange market, on September 9, the State Bank of Vietnam listed the exchange rate at 24,202 VND/USD. Commercial banks listed USD exchange rates at around 24,445 – 24,785 VND/USD. In the free market, USD prices fell to 25,100 – 25,190 VND/USD.
Domestic USD prices have been on a downward trend since the beginning of August. Compared to the highest price in history set more than a month ago, bank USD prices have decreased by more than 2.3%. Currently, USD prices are at the mid-range of March earlier this year and are only about 1.5% higher than the beginning of the year.
The Commodities Rundown: Oil, Copper, Aluminum, Steel, and Rubber Rally, While Gold Holds Steady
As of the market close on September 9th, commodities were mostly on the rise, with oil, copper, aluminum, steel, rubber, and coffee futures all posting gains. Gold prices held steady, while natural gas in the US fell.
The Unexpected Drop in SJC Gold Bar Prices
The SJC gold bar price dropped by 500,000 VND per tael this morning, September 5, while the gold ring price remained stable.
