Updated at 14:30, the price of SJC gold at Sai Gon Jewelry, precious stones and precious metals was listed at 77.8-80.3 million dong per tael, a decrease of 2.4 million dong per tael in the buying rate and 2.2 million dong per tael at the selling rate compared to yesterday. The price of 24k plain gold rings at this place also plummeted to only 67.1-68.5 million dong per tael.
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Updated at 13:30, the price of SJC gold and plain gold rings continued to decrease compared to this morning.
At Sai Gon Jewelry, precious stones and precious metals, the price of plain gold rings is only 67.3-68.6 million dong per tael, a decrease of 1.6 million dong per tael compared to yesterday. The price of SJC gold also continued to plummet to 78.5-81 million dong per tael, a decrease of 1.2 million dong per tael compared to yesterday.
Brands like DOJI, Bao Tin Minh Chau, PNJ have all lowered the price of plain gold rings to below 69 million dong per tael. Therefore, compared to the peak reached a few days ago, the price of plain gold rings at Bao Tin Minh Chau and DOJI has decreased by more than 2 million dong per tael, while PNJ recorded a large decrease of about 1.5 million dong per tael.
The price of SJC gold has decreased by about 1.5 million dong per tael compared to the peak of 82.5 million dong per tael.
The domestic gold price has unexpectedly dropped millions of dong per tael in a short period of time, while the world gold price has also adjusted but not sharply.
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Updated at 9:45, the downward trend of the domestic gold price has not stopped yet.
At Sai Gon Jewelry, precious stones and precious metals, the price of plain gold rings has decreased another 100,000 dong per tael compared to 9:00 am, currently listed at 68.0-69.3 million dong per tael. Compared to yesterday, this type of gold has decreased by 1 million dong per tael. The price of SJC gold has also continued to decrease by 400,000 dong per tael to 79.8-81.8 million dong per tael.
Bao Tin Minh Chau listed the price of plain gold rings at 68.48-69.88 million dong per tael, a decrease of 1.4 million dong per tael compared to yesterday.
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Specifically, at 9:00 am, DOJI Group reduced the price of plain gold rings by up to 1.5 million dong per tael, currently listed at 68.40-69.60 million dong per tael. The price of SJC gold decreased by 250,000 dong per tael to 80.00-82.00 million dong per tael.
At Sai Gon Jewelry, precious stones and precious metals, the price of 9999 gold rings is currently at 68.1-69.4 million dong per tael, a decrease of up to 900,000 dong per tael compared to yesterday. The price of SJC gold has also been adjusted to decrease by 300,000 dong per tael to 80.2-82.2 million dong per tael.
At Bao Tin Minh Chau, the price of plain gold rings is listed at 69.48-70.78 million dong per tael, a decrease of about 500,000 dong per tael compared to yesterday. The price of SJC gold here is staying at 80.20-82.10 million dong per tael.
In the international market, the spot price of gold on the evening of March 12 (Vietnam time) sharply decreased, “evaporating” nearly 30 USD/ounce to 2,155 USD/ounce. At 9:00 am on March 13, the international gold price was at 2,158 USD/ounce, equivalent to 64.5 million dong per tael based on the bank’s USD exchange rate and 66.6 million dong per tael based on the free market USD exchange rate.
Gold was heavily sold off after new CPI data for the US was released, higher than market expectations. A report from the US Labor Department showed that CPI in February increased by 0.4% compared to the previous month and increased by 3.2% compared to the same period last year. The consumer price index (CPI) in February reached the highest level in 5 months. This is the highest increase since September last year. Analysts believe that with this data, the US Federal Reserve may postpone the interest rate cut until the second half of the year. Before implementing interest rate cuts, senior officials of the Federal Reserve want compelling evidence that inflation is slowing down and returning to the 2% target. However, the February CPI report did not meet their expectations.
