Gold prices fluctuated, SJC gold increased slightly, 999.9 gold rings decreased to 76.50 million VND/tael

Domestic gold price reversed and increased rapidly, SJC gold reached 85 million VND/tael. Gold price plummeted, 999.9 gold ring decreased to 76.58 million VND/tael, yesterday's buyer lost 2 million.

Gold price domestic

At noon on April 14, the price of SJC gold increased slightly after yesterday's plunge. Currently, the price of SJC gold at Saigon Jewelry Company in Ho Chi Minh City is trading around 81.80 - 83.80 million VND/tael, an increase of 100 thousand VND/tael for buying and 100 thousand VND/tael for selling compared to yesterday. The difference between buying and selling is 2 million VND/tael.

Giá vàng diễn biến trái chiều, vàng SJC tăng nhẹ, vàng nhẫn 999.9 giảm còn 76,50 triệu đồng/lượng

The price at Saigon Jewelry Company in Hanoi is around 81.80 - 83.82 million VND/tael, an increase of 100 thousand VND/tael for buying and 100 thousand VND/tael for selling compared to yesterday. The difference between buying and selling is 2 million VND/tael.

The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 81.00 - 83.10 million VND/tael, an increase of 100,000 VND/tael for buying and 100,000 VND/tael for selling compared to yesterday.

At Phu Quy Group, the price of SJC gold bars is currently trading around 80.90 - 83.10 million VND/tael for buying and selling, an increase of 100 thousand million VND/tael for buying and an increase of 100 thousand VND/tael for selling compared to yesterday.

The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 80.60 - 83.10 million VND/tael, an increase of 100 thousand million VND/tael for buying and 100 VND/tael for selling compared to the previous session.

Contrary to the price of SJC gold, the price of 999.9 gold rings today continued the downward trend of yesterday's market. Specifically, the price of 999.9 gold rings (24k), the price of Thang Long gold dragon gold bars, and plain round rings at Bao Tin Minh Chau Company traded at 74.18 - 76.08 million VND/tael for buying - selling, down 400 thousand VND/tael for buying and down 300 thousand VND/tael for selling compared to yesterday.

Thang Long 999.9 (24k) gold jewelry is trading around 73.40 - 75.70 million VND/tael, down 400 thousand VND/tael for buying and down 400 thousand VND/tael for selling compared to yesterday.

Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings of Bao Tin Manh Hai Company are trading around 74.18 - 76.08 million VND/tael for buying and selling, down 400 thousand VND/tael for buying and down 500 thousand VND/tael for selling compared to yesterday.

Gold price traded at Bao Tin Manh Hai

The price of 999.9 gold is around 73.40 - 75.70 million VND/tael, down 400 thousand VND/tael for buying and down 400 thousand VND/tael for selling compared to yesterday's session. The price of 99.9 gold is currently around 73.30 - 75.60 million VND/tael, down 400 thousand VND/tael for buying and down 400 thousand VND/tael for selling compared to yesterday's session.

At Phu Quy Group, Phu Quy 999.9 round rings and Phu Quy 999.9 God of Wealth rings are trading around 74.70 - 76.50 million VND/tael, down 100,000 VND/tael for buying and down 100,000 VND/tael for selling compared to yesterday.

24K 999.9 gold is trading around 73.90 - 75.90 million VND/tael, down 100,000 VND/tael for buying and 100,000 VND/tael for selling compared to yesterday.

Gold price traded at Phu Quy Group

Last week, under the Prime Minister’s strong direction, gold was expected to be “reined in” next week. At the same time, the world gold price was forecast to continue to increase sharply, so the opportunity for the gap between the two markets to fall below VND10 million/tael is very high.

Earlier, at noon on April 12, the State Bank said it had prepared intervention plans and was conducting inspections of gold trading activities of enterprises.

World gold price

Domestic gold prices continuously peaked and then quickly plummeted, in line with the international market. After reaching a peak of 2,430 USD/ounce, the international price of the precious metal turned sharply down by nearly 90 USD/ounce and closed the weekend session at 2,343 USD.

Converted at the exchange rate excluding taxes and fees, the difference between domestic and international gold bar prices is around 12.5 million VND/tael, while gold rings are 4.5-5.5 million VND, depending on the brand and time.

World gold price chart (Source: Kitco)

Analysts say the market is correcting after hitting a series of recent highs. Strong market volatility is not uncommon, as gold's daily movements have been influenced by macroeconomic data and interest rate policy forecasts.

There’s no point in overthinking things in the current environment, said Darin Newsom, senior market analyst at Barchart.com. “Is gold overbought? Yes. Is the U.S. dollar index extending its long-term uptrend? Yes. Am I willing to bet against gold based on these two factors? No. For now, I’m going to follow Market Rule No. 1: Don’t go against the trend,” said Darin Newsom.

“It ended the week strong. I am bullish on gold next week,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.

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