Gold price drops every minute

World gold price drops every minute - Screenshot

Has the gold bubble burst?

At 8:40 p.m., the world gold price reached 3,298 USD/ounce. However, just 20 minutes later, at 9:00 p.m., the world gold price was only 3,275 USD/ounce.

At 9:10 p.m., the world gold price was 3,266 USD/ounce, equivalent to a decrease of 226 USD/ounce compared to the peak (7.12 million VND/tael).

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 102.9 million VND/tael.

Yesterday afternoon, the world gold price reached a new peak of 3,492 USD/ounce. However, the world gold price immediately turned down.

This is the strongest correction in many months. According to analysis, the world gold price has plummeted after showing signs of a change in direction.

Specifically, from continuously increasing tariffs on Chinese goods, Mr. Trump has "changed his tone". At a press conference at the White House, Mr. Trump said that the high tariffs that the US imposes on Chinese goods will be significantly reduced, but will never reach 0%.

US President Donald Trump also appeared to back off his threat to fire Mr Powell, after days of criticising the Fed chairman for not cutting interest rates.

"I have no intention of firing him. I want to see him be more aggressive in lowering interest rates," Mr. Trump told reporters in the Oval Office on April 22.

In addition, Russian President Vladimir Putin has lowered many conditions for a ceasefire and peace with Ukraine. The proposal was made at a meeting between the Russian President and Mr. Steve Witkoff, special envoy of US President Donald Trump, in the middle of the month.

This is the first time Mr Putin has officially suggested lowering his demands since the early stages of the war with Ukraine. Previously, the Russia-Ukraine conflict and tariff tensions had pushed gold prices higher than expected.

Domestically, since the beginning of 2025, the price of SJC gold bars has increased by 52.38%, bringing the price of gold from 84 million VND/tael to 124 million VND/tael. However, when these issues were actively resolved, the gold price bubble was deflated.

Domestic gold price evaporated 4.5 million VND/tael within one day

What people are concerned about now is whether the domestic gold price will drop sharply following the world gold price - Photo: THANH HIEP

This morning, SJC Company reduced the selling price of SJC gold bars by 2 million VND/tael, to 122 million VND/tael, the buying price is at 120 million VND/tael.

However, the decline has not stopped. By the end of the day, the selling price of SJC gold bars was only 119.5 million VND/tael, and the buying price was 116.5 million VND/tael. Thus, in just one day, the price of gold bars evaporated 4.5 million VND/tael.

The difference between buying and selling prices increased from 2 million VND/tael to 3 million VND/tael. The price of 9999 gold rings decreased to 115.6 million VND/tael (selling), and the buying price was 112.5 million VND/tael.

At PNJ Company, the buying and selling price of SJC gold bars also decreased to the same price as at SJC Company, while the selling price of 9999 gold rings at the end of the day was 115.7 million VND/tael, buying price was 112.9 million VND/tael.

At Bao Tin Minh Chau Company, the selling price of 9999 gold rings this morning dropped rapidly to 118 million VND/tael, buying price 115 million VND/tael, equivalent to a decrease of 4 million VND/tael compared to last night.

Because the world gold price dropped so sharply tonight, the gap between domestic and world gold prices has widened. Compared to the converted world gold price, the price of SJC gold bars is 16.6 million VND/tael higher, while the price of gold rings is 12.8 million VND/tael higher.

Please follow the domestic gold price developments here.

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Source: https://tuoitre.vn/gia-vang-giam-tung-phut-20250423211337946.htm