As of 9:45 a.m., businesses trading in gold continued to lower the prices of gold rings and SJC gold.
Specifically, gold shops currently list SJC gold prices around the 81.6-83.6 million VND/tael mark, a decrease of 300,000 VND per tael for both buying and selling compared to yesterday’s trading session. Over the past two days, SJC gold bullion prices have fallen by up to 17%.
SJC gold price movement in the past week. (Chart: Cafef)
Similarly, the prices of plain gold rings were also adjusted downward. Accordingly, the price of plain gold rings at SJC Company fell to 81.6-83.4 million VND/tael, with a decrease of 300,000 – 200,000 VND per tael for buying and selling, respectively.
PNJ gold shop also adjusted the price of gold rings down to 82.7-83.55 million VND/tael, a decrease of 250,000 VND per tael in selling price.
Similarly, Doji Gold and Gems Group lowered the price of 9999 gold rings to 82.55-83.55 million VND/tael, a decrease of 350,000 VND/tael for both buying and selling.
Bao Tin Minh Chau adjusted the price of plain rings to the threshold of 82.6-83.3 million VND/tael, a decrease of 30,000 VND per tael in buying price and 500,000 VND per tael in selling price.
In Ho Chi Minh City, Mi Hong gold business currently lists gold prices at 82.5-83.5 million VND/tael, a decrease of 200,000 VND per tael.
In the international market, according to Vietnam time, this morning, December 20, the world gold price stood at $2,596/ounce. Converted at bank exchange rates, the world gold price is equivalent to nearly VND 80.7 million/tael, including tax and fee, which is lower than the domestic gold price by about VND 2.9 million/tael.
Earlier, world gold prices fluctuated strongly after the Fed cut interest rates by 0.25%. Initially, the price dropped by nearly $60/ounce, from $2,650 to $2,590/ounce, but then recovered to $2,624.9/ounce at the end of December 19, an increase of $40/ounce.
The Golden Question: Should You Buy Now or Hold Your Horses?
This morning (December 6th), domestic gold prices remained stagnant for the second day around the 84-85 million VND per tael mark. Experts suggest that investors may consider buying, but it is advisable to purchase in moderate quantities.
The Golden Opportunity: Unveiling the Daily Treasure
On the morning of December 2nd, domestic gold prices dipped compared to the previous week’s close. The adjustment ranged from 500,000 to 800,000 VND per tael.
The Golden Opportunity: Unveiling the SJC Gold Price and Ring Gold Price on December 5th
On the morning of December 5, the domestic gold price witnessed a slight fluctuation compared to the previous day’s rates.
Gold Prices Rise Slightly After US Jobs Report and Political Turmoil in South Korea, France
The spot gold price in New York edged higher on Tuesday (December 3) after stronger-than-expected employment data reinforced expectations of a more cautious Fed in its monetary policy easing process. In the Asian market, gold prices also ticked up following political turmoil in South Korea and France.
The Golden Question: How Much Has Gold Price Dropped in the Past Month?
This morning (December 1st), gold bar prices hovered around the 85 million VND per tael mark, while gold rings dropped to 84 million VND per tael. Over the past month, gold bar prices have fallen by nearly 4 million VND per tael.
