SJC gold bar and gold ring prices suddenly cool down

(NLDO) – The price of SJC gold bars and gold rings continued to decrease on the second day of Tet following the cooling trend of world prices.

On the morning of January 30 (the second day of Tet), the price of SJC gold bars was bought at 86.65 million VND/tael at some gold bar trading points and sold at 87.45 million VND/tael, down 50,000 VND per tael compared to yesterday.

Gold bar prices fell for the second consecutive day. However, many businesses and commercial banks are currently on a long Lunar New Year holiday, so gold prices fluctuate differently. Compared to the closing prices of businesses before the holiday, gold bar prices have now decreased by about VND1.4 million/tael.

Meanwhile, the price of 99.99 gold rings and jewelry gold is listed by some gold shops as buying at 85.8 million VND/tael, selling at 86.4 million VND/tael, a sharp decrease of 1.3 million VND/tael compared to yesterday. Some other units sell at a higher price, around 87.7 million VND/tael. The price of gold rings varies between brands and business units.

Gold price today continues to decrease for SJC gold bars and gold rings

In the international market, the gold price today also failed to maintain its high level when it fell to 2,759 USD/ounce, down about 15 USD/ounce compared to yesterday. The precious metal on the international market cooled down when the USD remained at a high level, around 107.7 points.

At its first monetary policy meeting of 2025, the US Federal Reserve (FED) decided to leave interest rates unchanged at the current level of 4.25% - 4.5%. However, the market still expects the FED to cut interest rates twice this year, when that will benefit gold prices.

According to analysts, although the domestic gold price has cooled down, it is difficult for the domestic gold price to decrease sharply before the God of Wealth Day (January 10) due to the high demand for buying physical gold and gold jewelry for beauty purposes during Tet. If calculated from the beginning of 2025 until now, the price of SJC gold bars and gold rings has continuously increased by more than 4 million VND/tael.

Source: https://nld.com.vn/mung-2-tet-gia-vang-mieng-sjc-vang-nhan-bat-ngo-ha-nhiet-196250130094952433.htm