Crowds selling when gold price evaporates 6 million VND/tael

This afternoon, when the gold price dropped rapidly, many people sold their gold for fear that the price would drop further - Photo: THANH HIEP

Gold price drops straight to 114 million VND/tael

According to Tuoi Tre Online , April 19 was a day of constant fluctuations in domestic gold prices.

Opening on April 19, SJC Company sharply reduced the selling price of SJC gold bars from 120 million VND/tael to 117.5 million VND/tael, equivalent to a decrease of 2.5 million VND/tael.

Meanwhile, the gold buying price decreased by 3.5 million VND/tael, falling straight to 113.5 million VND/tael.

Gold holders are worried as gold prices continue to fall - Photo: THANH HIEP

However, less than an hour later, the price of SJC gold bars jumped to 119 million VND/tael (selling price). The difference between the buying and selling price of SJC gold bars increased to 4 million VND/tael.

However, this price did not last long when selling pressure increased sharply and other gold brands simultaneously reduced prices.

From noon on April 19, the price of gold bars at SJC Company decreased rapidly. At the end of today, the selling price of SJC gold bars was only 114 million VND/tael, down 6 million VND/tael compared to yesterday, the buying price was only 112 million VND/tael.

Thus, if you buy gold on April 18 at 120 million VND/tael and sell it on April 19, you will lose up to 8 million VND/tael.

Some people bought gold at low prices, so selling now has almost doubled their profit - Photo: THANH HIEP

The price of 9999 gold rings listed at SJC Company also continuously decreased from 117 million VND/tael to 113.5 million VND/tael (sell) and 109.5 million VND/tael (buy).

Notably, the buying price of gold bars and gold rings both decreased more sharply than the selling price. This is a sign that the market is in a downtrend and the "gold shops" have sharply reduced the buying price to defend.

At PNJ Company, at the end of the day, the buying and selling price of SJC gold bars also dropped sharply to the same level as the price at SJC Company, selling at 114 million VND/tael, buying at 112 million VND/tael. The selling price of 9999 gold rings at PNJ Company was 113.5 million VND/tael, buying at 109.5 million VND/tael.

People mainly take profits from SJC gold bars - Photo: THANH HIEP

At Bao Tin Minh Chau Company, at the end of the day, the selling price of 9999 gold rings dropped sharply to 114 million VND/tael, and the buying price was 111 million VND/tael.

Many people sell because they fear that the price of gold will fall further.

According to records, since early this afternoon, when the price of SJC gold bars and 9999 gold rings could not stay at the price range of 120 million VND/tael, many people went to sell gold.

At Mi Hong gold shop, many people lined up to sell both gold bars and gold rings. There were cases of buying SJC gold bars from the price range of over 68 million VND/tael, so even though the gold price has decreased, the profit is still nearly double if sold at the current price range.

There are also people selling 9999 plain gold rings - Photo: THANH HIEP

In the past, the gold buying and selling price at Mi Hong was always the highest in the market. However, after the news that Deputy Prime Minister Ho Duc Phoc directed the State Bank to urgently implement solutions according to regulations to stabilize the gold market, the price at Mi Hong dropped sharply.

On the morning of April 19, the selling price of SJC gold bars at Mi Hong dropped to 112 million VND/tael but just a few minutes later it jumped to 114.5 million VND/tael. At the end of the day, the selling price of SJC gold bars at Mi Hong was at 114 million VND/tael.

Early this afternoon, the selling price of SJC gold bars at Mi Hong was 115 million VND/tael, then at the end of the day the price of gold bars decreased by another 1 million VND/tael - Photo: THANH HIEP

According to experts, with the current difference of up to 9.25 million VND/tael, domestic gold prices are likely to face further downward pressure in the coming days as profit-taking selling pressure increases and management agencies step up measures to inspect the gold market.

Read more Back to Topics

Back to topic

PINK LIGHT

Source: https://tuoitre.vn/chen-nhau-ban-khi-gia-vang-boc-hoi-6-trieu-dong-luong-20250419185148327.htm