Gold price 9999, SJC plummeted without brakes

(PLO)- The prices of SJC gold bars and 9999 gold rings are tending to “evaporate” strongly, causing investors’ accounts to buy gold for good luck since the day God of Fortune was severely negative.

The domestic gold price continuously searched for the bottom, but the buying force was too low, causing the difference between the buying and selling prices to narrow sharply.

In the early afternoon of February 27, the price of SJC gold bars at Phu Nhuan Jewelry Group, Phu Quy, Saigon Jewelry Company was only 66 million VND/tael (buy) and 66.7 million VND/tael (for sale), reduced by 100,000 VND/tael in the buying afternoon and 200,000 VND/tael in the selling afternoon compared to late afternoon.

At Mi Hong Jewelry Company, the price of SJC gold bars decreased by 150,000 VND/tael in both directions compared to the end of the day, listing the buying and selling prices at 66.15 – 66.65 million VND/tael.

Even at Eximbank, the price of SJC gold bars is currently only 66.05 – 66.55 million dong/tael, down to 350,000 dong/tael compared to the closing price last week.

Similarly, 9999 gold rings also fell dramatically. The price of 24K gold jewelry traded on the free market, 52.8 – 53 million VND/tael. Compared to the time near the day of God of Fortune a month ago, up to now, 24K smooth round rings have decreased by about 2.5 – 2.7 million VND/tael. Meanwhile, SJC gold bar decreased by nearly 2 million dong per tael compared to a month ago.

In the world market, gold price is having the 6th consecutive decrease session with a total decrease of about 40 USD/ounce and is fluctuating around 1,808 USD/ounce. This is the lowest level in the past 2 months.

Converted at the exchange rate at commercial banks, the international precious metal price is equivalent to 52.3 million VND/tael. At this price, the world gold price is only more expensive than 9999 gold in the buying direction, about 500,000 VND/tael, and in the selling side, it is about 700,000 VND/tael.

The world gold price is under downward pressure because the greenback is tending to recover when investors believe that the US Federal Reserve (FED) will continue to raise interest rates and maintain high interest rates for a while. longer.

The difference between the buying and selling prices of SJC gold is extremely low

(PLO)- The sluggish gold market caused businesses to shorten the difference between the buying and selling prices of SJC gold bars to a very low level to stimulate demand, in some places this buckling level was only 200,000 VND per tael.


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