Stocks "deflated", gold price dropped to 6 million VND/tael

ANTD.VN - The stock market's growth could not last into the second session, while gold holders were "restless" because the gold price plummeted like a brake had been broken.

In today's trading session, for the first time since the State Bank intervened in selling gold through four state-owned commercial banks and SJC Company, the price of gold bars fluctuated continuously during the session instead of maintaining a price from the beginning to the end of the session as before.

If at the opening of the trading session, gold bars only decreased by 1.5 million VND/tael, then by 4:00 p.m. this afternoon, businesses had adjusted the price down many times, widening the decrease to 3.5 million VND/tael.

Accordingly, the price of gold bars as of 4 p.m. is listed at VND85.50 million/tael for sale. Notably, the buying price has decreased by VND6 million/tael, to only VND81 million/tael. The difference between buying and selling prices has widened to VND4.5 million/tael.

Thus, buyers of SJC gold at the peak price of 90 million VND/tael have now suffered a heavy loss of 9 million VND/tael after only 1 week.

Many people rushed to sell gold when the price dropped sharply.

Similarly, the price of gold rings as of this afternoon has also decreased by about 4.1 - 4.5 million VND/tael depending on the business. Accordingly, SJC 999.9 rings are listed at 81.00 - 83.80 million VND/tael (buy - sell).

DOJI Hung Thinh Vuong rings also decreased sharply to 81.40 - 83.80 million VND/tael; Bao Tin Minh Chau plain round rings 81.58 - 84.08 million VND/tael; Phu Quy round rings 81.40 - 83.60 million VND/tael...

Domestic gold prices continue to fall freely while the world gold price decline has been temporarily “braked”. According to records, businesses have to continuously adjust gold buying and selling prices due to the sharp increase in the number of gold sellers. At some gold selling points, people even face difficulties because stores delay purchasing due to the continuous price fluctuations.

Meanwhile, the stock market, after a strong increase of more than 15.5 points yesterday of VN-Index, quickly deflated today. The increase was only recorded in some small stocks, while the group of large stocks traded negatively. The VN30 basket recorded only 5 stocks increasing: VCB, VNM, FPT, PLX, STB, the remaining 5 stocks remained unchanged and 20 stocks decreased.

At the end of the session, all three indices on the floor decreased, of which, VN-Index decreased 1.53 points (-0.12%) to 1,259.75 points; HNX-Index decreased 0.27 points (-0.12%) to 227.49 points; UPCoM-Index decreased 0.39 points (-0.42%) to 92.32 points.

Not only did the score decrease, but the liquidity of the entire market also shrank to less than 14 trillion VND. Foreign investors continued to net sell nearly 420 billion VND.

Source: https://www.anninhthudo.vn/chung-khoan-xi-hoi-gia-vang-giam-toi-6-trieu-dongluong-post594830.antd