The price of SJC gold bars increased by a total of 1.8 million VND/tael in just two days, then suddenly decreased by half a million VND/tael on the afternoon of February 4.
Domestic gold prices unexpectedly dropped this afternoon. In the photo are people buying and selling gold at Mi Hong gold shop - Photo: THANH HIEP
Gold prices increase sharply, investors take profits early
From 90.6 million VND/tael, the listed price of gold bars at SJC Company decreased by 500,000 VND/tael, falling to 90.1 million VND/tael. The buying price also dropped sharply, from 88.1 million VND/tael to 87.6 million VND/tael.
The selling price of 9999 gold rings at SJC Company at the end of February 4 also fell below the threshold of 90 million VND/tael, to 89.6 million VND/tael, equivalent to a decrease of 500,000 VND/tael. The buying price was 87.6 million VND/tael.
On the same morning, the listed price of gold bars at SJC Company increased to 90.6 million VND/tael. The buying price increased to 88.1 million VND/tael. In total, within two days after Tet, the price of SJC gold bars increased by 1.8 million VND/tael.
Gold prices have increased sharply since Tet and coincided with the time when many people believe in buying gold for good luck at the beginning of the year - Photo: THANH HIEP
At PNJ Company, the buying and selling price of SJC gold bars decreased even more sharply, from 90.6 million VND/tael to 90.1 million VND/tael, the buying price was 87.6 million VND/tael.
After soaring to 90.3 million VND/tael, by the end of the day, the price of 9999 plain gold rings at PNJ Company had decreased to 89.9 million VND/tael, buying at 88.3 million VND/tael.
Bao Tin Minh Chau Company also reduced the selling price of gold rings to 90.05 million VND/tael, the buying price to 88.1 million VND/tael, equivalent to a decrease of 500,000 VND/tael.
Notably, domestic gold prices decreased even though world gold prices remained high: 2,822.8 USD/ounce at the end of February 4.
Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 86.3 million VND/tael.
People buy gold at PNJ gold store on Hai Ba Trung street, District 1 this afternoon - Photo: THANH HIEP
According to experts, the domestic gold price suddenly dropped sharply due to profit-taking selling pressure from early afternoon on February 4. People sold a lot, so gold companies were forced to lower the selling and buying prices, at the same time widening the gap between buying and selling prices to more than 2 million VND/tael.
Compared to previous years, the profit-taking pressure this year appeared earlier because the gold price has increased too much in recent days. In previous years, gold prices usually had to drop sharply on or after the God of Wealth Day.
God of Fortune Day with the highest gold price in history
God of Wealth gold products launched on the market this year - Photo: THANH HIEP
On God of Wealth Day last year, the price of SJC gold bars was around 76 - 77 million VND/tael (selling price), the buying price was around 74.5 million VND/tael. Meanwhile, the selling price of 9999 gold rings fluctuated from 64.5 - 64.7 million VND/tael.
After one year, the price of SJC gold bars has increased by more than 13 million VND/tael, while the price of 9999 gold rings has increased by more than 25 million VND/tael.
It can be said that this year is the year that the price of gold on God of Fortune Day is at its highest level in history.
According to records, not only has the gold price increased, but the gold supply is also scarce because gold companies have not been granted quotas for importing raw gold for a long time. Therefore, at SJC Company, each day a customer can only buy a maximum of 0.5 taels of 9999 gold rings or 1 tael of Than Tai gold products.
Compared to the converted world gold price, the price of SJC gold bars is 3.1 million VND/tael higher, while the price of 9999 gold rings is 3.3 million VND/tael higher.
Please follow the domestic gold price developments here.
PNJ Company's Vuong Xa Tran Bao collection for gentlemen - Photo: THANH HIEP
According to records, many other gold companies have launched God of Wealth gold products, such as Sacombank - SBJ launched the 2025 "God of Wealth - Prosperity all year round" blister-pressed gold collection. Including products such as 1-tael God of Wealth gold blister-pressed, the front is engraved with the image of the God of Wealth, the back is printed with the word "Loc".
There are also gold products pressed in Kim Ty Phat Tai blister packs weighing 1 chi and lucky God of Wealth gold pieces weighing 0.1 chi and 1 chi, and lucky bags of 0.5 chi.
PNJ also launched the Spring - God of Wealth 2025 collection, including the Vuong Xa Tran Bao collection for men and the Kim Bao Nhu Y jewelry collection with the main image of the Ruyi stick and four-leaf clover for the female customer segment.
Besides, the lucky gold product At Ty Tat Thanh is inspired by the snake mascot to represent flexibility, adaptability and intelligence, a style symbol for young people...
Source: https://tuoitre.vn/gia-vang-bat-ngo-quay-xe-truoc-ngay-than-tai-20250204202322903.htm
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