Gold price drops sharply to 100 million VND per tael

Price of SJC gold bars and plain rings sold on the market since the beginning of the year

On the morning of April 5, Saigon Jewelry Company (SJC) listed the price of gold bars at 97.1 - 100.1 million VND/tael, down 1.7 million VND for buying and 1.2 million VND for selling compared to yesterday. The difference between buying and selling prices of gold bars widened to around 3 million VND/tael.

Plain gold rings were also adjusted by SJC this morning with a similar amplitude. SJC lowered the buying and selling price of gold rings to 97 - 100 million VND/tael. Phu Nhuan Jewelry Company (PNJ) listed plain rings at 97.5 - 100.1 million VND/tael. Meanwhile, at Bao Tin Minh Chau, plain rings decreased to 97.5 - 100.5 million VND/tael.

Domestic gold prices fell after the precious metal fell sharply in the international market in the last trading session of the week. Each ounce of gold for daily delivery fell by 80 USD and closed the weekend session at 3,036 USD per ounce.

Converted according to Vietcombank's selling rate, the world gold price is currently equivalent to 95 million VND per tael. The difference between domestic and world gold prices is currently around 5 million VND per tael.

Analysts said the price drop was due to investors taking profits after the market hit a peak on April 2. Another reason was that assets such as stocks lost value, forcing investors to sell gold to deposit more money into margin-call accounts.

TB (summary)

Source: https://baohaiduong.vn/gia-vang-giam-manh-ve-100-trieu-dong-moi-luong-408773.html