(NLDO) – The price of SJC gold bars and gold rings continues to fall following the world price drop. The price of buying gold bars is only 86.7 million VND/tael.
On the morning of February 12, gold companies SJC, PNJ, DOJI , and Phu Quy simultaneously adjusted the price of SJC gold bars down as soon as they opened, down to 86.7 million VND/tael for buying and 90.2 million VND/tael for selling, down another 300,000 VND/tael compared to the end of yesterday.
Some units like Mi Hong sell gold bars for 89.3 million VND/tael.
Compared to the record peak of gold bar price this morning, at 93.1 million VND, each tael of gold bar has "evaporated" by 2.9 million VND/tael. Those who buy at this price range, if they sell, can lose up to nearly 7 million VND/tael.
Similarly, the price of 99.99 gold rings and jewelry gold of all kinds also continued to decrease. The trading price of gold rings fell below the 90 million VND mark, to 86.7 million VND/tael for buying and 89.7 million VND/tael for selling, down 800,000 VND compared to the end of yesterday. Compared to the historical peak on the morning of February 11, each tael of gold rings lost 2 million VND.
SJC gold bar price, gold ring price continues to fall
Domestic gold prices have fluctuated strongly, increasing and decreasing rapidly in recent days due to the influence of world prices.
In the international market, shortly after reaching an all-time peak of 2,940 USD/ounce, the price of gold quickly cooled down and then plummeted, falling below the 2,900 USD/ounce range.
At 9:00 a.m. this morning, Vietnam time, the price of gold today was traded at 2,895 USD/ounce, down another ten USD/ounce, losing a total of about 50 USD/ounce compared to the historical high.
Precious metals fell due to profit-taking pressure from the market after weeks of hot growth. At the same time, in the latest meeting of the US Federal Reserve (FED), Mr. Jerome Powell, Chairman of the FED, said that the central bank remains cautious about cutting interest rates due to strong economic conditions and inflation consistently above the 2% target. The fact that the FED has not continued its interest rate cutting roadmap has prevented gold prices from gaining momentum again.
With the current price of SJC gold bars, gold rings and the widening gap between buying and selling prices up to 3.5 million VND/tael, those who bought gold on the God of Fortune Day at the price of 90 million VND/tael will now lose 2-3 million VND if they sell.
Those who bought gold bars at the peak of 92.4 million VND/tael in May last year, if they keep them until now, are also suffering heavy losses.
Source: https://nld.com.vn/gia-vang-mieng-sjc-vang-nhan-9999-chua-ngung-lao-doc-196250212092156524.htm
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