The price of gold at the end of today, February 28, is only 90.5 million VND/tael. Will the price of gold fall below 90 million VND/tael in the coming days?
Gold prices have plummeted in recent days - Photo: THANH HIEP
Domestic gold price decreases slowly, why?
At 7:30 p.m. today, the world gold price was at 2,862 USD/ounce. Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 88.78 million VND/tael.
Thus, compared to the peak of 2,956 USD/ounce set at the beginning of the week, the world gold price has evaporated 94 USD/ounce, equivalent to 2.92 million VND/tael.
However, domestic gold prices decreased more slowly.
At PNJ Company, the selling price of 9999 gold rings also decreased by VND100,000/tael, to VND91.2 million/tael, while the buying price was VND90.3 million/tael.
The special thing is that if in the previous days the price of gold rings at PNJ Company always maintained a certain difference compared to the price of SJC gold bars, today the price of gold rings and gold bars at PNJ Company are equal in both buying and selling directions.
Bao Tin Minh Chau Company reduced the price of 9999 gold rings to 91.3 million VND/tael, the buying price also increased to 90.1 million VND/tael.
At Mi Hong gold shop, the selling price of SJC gold bars is 91.4 million VND/tael, the buying price is 90.1 million VND/tael.
Gold buying and selling price gap narrows
Notably, the gap between buying and selling gold prices has narrowed significantly. For example, at Mi Hong gold shop, the gap is only 600,000 VND/tael.
Meanwhile, at some other large gold companies, the difference is only 1 million VND/tael.
Compared to the converted world gold price, the domestic gold price is about 1.72 million VND/tael higher.
According to expert Tran Duy Phuong, the price of physical gold always lags behind the world gold price. Therefore, if the world gold price continues to maintain a downward trend, the domestic gold price may fall sharply next week.
According to expert Tran Duy Phuong, the world gold price has fallen into a downward trend after 9 consecutive weeks of increase. This trend may last 5-6 weeks, with a possible decrease of up to 2,727 USD/ounce, equivalent to a decrease of 7.7% compared to the peak.
Domestic gold price today decreased by 700,000 VND/tael, to 90.5 million VND/tael. Buying price decreased to 88.5 million VND/tael.
The price of 9999 gold rings is also equal to the price of gold bars.
Please follow the domestic gold price developments here.
Source: https://tuoitre.vn/gia-vang-co-the-ve-duoi-90-trieu-dong-luong-trong-tuan-toi-20250228201531916.htm
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