On the afternoon of March 20, gold price fell below 100 million VND/tael

(NLDO) – The price of SJC gold bars and gold rings suddenly fell below the 100 million VND/tael mark this afternoon, March 20, after reaching a peak of nearly 101 million VND in the morning.

At 3:00 p.m. on March 20, the price of SJC gold bars and gold rings was suddenly adjusted down sharply by SJC, PNJ, and DOJI businesses to below 100 million VND/tael.

The price of SJC gold bars is listed by businesses at 97.8 million VND/tael for buying and 99.8 million VND/tael for selling, down 600,000 VND per tael compared to the morning.

This is quite a surprising development after a series of increases of millions of dong in many consecutive days. The gold price reached its highest level of 100.4 million dong/tael on the morning of March 20.

Similarly, the price of 99.99 gold rings and jewelry gold of all kinds also left the historical peak. The price of 99.99 plain gold rings was listed by businesses at 97.7 million VND/tael for buying and 99.7 million VND/tael for selling, a sharp decrease of 700,000 VND/tael compared to the morning.

The difference between buying and selling prices is kept high by businesses, around 2 million VND/tael.

SJC gold bar and gold ring prices suddenly plummet

Some other units such as PNJ and DOJI adjusted the price of plain gold rings to decrease more slowly, but also decreased to below 100 million VND/tael. Particularly, gold bars of the brand Vang Rong Thang Long and plain gold rings of Bao Tin Minh Chau Company are still traded at over 100 million VND/tael.

Domestic gold prices "turned around" when world prices adjusted down after a series of hot days. On the international market, gold prices at 3 p.m., Vietnam time, were traded at $3,040/ounce, down about $10/ounce compared to the morning.

Thus, world gold prices are decreasing more slowly than the decline in domestic gold prices.

Speaking privately with a reporter from Nguoi Lao Dong Newspaper on the sidelines of the discussion "Solutions to promote private economic development" this morning, March 20, Mr. Le Tri Thong, General Director of PNJ, commented that the domestic gold price has increased sharply recently due to the influence of the world's increasing momentum.

Uncertainties in the international market related to the US tariff policy with its trading partners have made investors worried and seek gold as a safe haven. The world gold price has increased beyond the 3,000 USD/ounce mark as predicted by analysts at the beginning of the year.

"If the unstable factors related to tariff policy, geopolitical conflicts in the Middle East and the US economy are not completely resolved, gold may continue to increase," Mr. Thong commented.

Currently, the world gold price converted according to the listed exchange rate is about 94.3 million VND/tael.

Source: https://nld.com.vn/chieu-20-3-gia-vang-roi-khoi-moc-100-trieu-dong-luong-196250320152553318.htm