Gold price today suddenly dropped, gold buyers made big profits

Today's gold price, gold ring price, gold bar price decreased after a day standing at the peak of 100 million VND/tael. The selling price of gold rings is at 99.7 million VND/tael.

Gold price today suddenly dropped

Gold price today, at 3:00 p.m. on March 20, gold ring price and gold bar price were adjusted up and down inconsistently by gold trading establishments.

Saigon Jewelry Company Limited - SJC is trading SJC gold bars at 97.8 - 99.8 million VND/tael for buying and selling.

Today's gold price, gold ring price, SJC gold bar price listed at Saigon Jewelry Company Limited - SJC. Screenshot at 3:00 p.m.

Bao Tin Minh Chau listed the price of SJC gold at 98.3 - 100.1 million VND/tael for buying and selling. Meanwhile, Thang Long Dragon gold bars are being traded at 98.85 - 100.6 million VND/tael for buying and selling.

Similar to SJC gold bars, gold ring prices are also being traded at different prices by businesses.

Bao Tin Minh Chau buys and sells gold rings at 98.85 - 100.6 million VND/tael. Meanwhile, Saigon Jewelry Company Limited - SJC is buying and selling gold rings at 97.7 - 99.7 million VND/tael.

Compared to the peak recorded in the morning trading sessions, this afternoon, SJC Company has adjusted the gold price down sharply, the ring gold price decreased by 700,000 VND/tael for buying and 500,000 VND/tael for selling. DOJI also reduced similarly, bringing the ring gold price down to 98.5 - 99.3 million VND/tael.

Compared to January 1, 2025, the price of SJC gold bars has increased sharply, up to 15 million VND/tael, so investors and gold buyers have made a big profit.

If you buy gold on January 1, 2025 at Bao Tin Minh Chau at the price of 84.2 million VND/tael, and sell it this afternoon, March 20, at the price of 98.3 million VND, the investor will make a profit of 14.1 million VND. For those who bought about 10 taels of gold at that time, the profit will be 141 million VND today.

Gold prices fell today, but investors and people still made big profits. Photo: Minh Chien

Domestic gold prices increased sharply following world gold prices. At 3:00 p.m. on March 20, world gold prices stood at $3,039/ounce. According to analysts, gold prices increased after the US Federal Reserve (FED) announced the policy statement of the Federal Open Market Committee (FOMC) without any major surprises.

The Fed left interest rates unchanged as expected, saying the US economic outlook was uncertain and inflation remained high. The Fed also announced it would slow the pace of its balance sheet reduction, a move seen as a slight easing of monetary policy.

Should I buy gold or sell gold?

In the context of gold prices at their peak, many investors and people are wondering whether to buy or sell gold to make a profit at this time.

Giving advice, Associate Professor Dr. Dinh Trong Thinh stated that gold prices continuously reach new peaks but also pose many potential risks for investors if they only "chase the peak" and surf the waves.

The price of gold tomorrow may be higher than today, next week higher than this week, the fact that the price of gold continuously breaks the peak also means the possibility of buying gold at the peak at any time. Therefore, investors as well as people must allocate assets reasonably, should not go all in on gold if there is a need to buy for a short-term trade.

Sharing the same view, another economic expert also said that the world gold price has exceeded the threshold of 3,000 USD/ounce, at 3:00 p.m. on March 20, the world gold price stood at 3,039 USD/ounce. While many international investors tend to take profits, in Vietnam, the psychology of buying gold for investment is still dominant.

“ In the context of low bank interest rates, many people are willing to withdraw money and invest in gold to prevent risks,” said the expert, who recommended that investors should not “put all their eggs in one basket.”

Domestic gold prices increased sharply following world gold prices. At 3:00 p.m. on March 20, world gold prices stood at $3,039/ounce. According to analysts, gold prices increased after the US Federal Reserve (FED) announced the policy statement of the Federal Open Market Committee (FOMC) without any major surprises.

Source: https://congthuong.vn/gia-vang-hom-nay-giam-bat-ngo-nguoi-mua-vang-lai-dam-379196.html