The price of SJC gold bars and gold rings has dropped dramatically again.

(NLDO) – In just one day, the price of SJC gold bars and gold rings decreased by a million VND/tael following the downward trend of world prices.

On the morning of February 15, the price of SJC gold bars was listed by SJC, PNJ, DOJI, and Phu Quy companies at 87.3 million VND/tael for buying and 90.3 million VND/tael for selling, down 1 million VND/tael compared to the end of yesterday.

This is a very sharp decrease after 2 days of strong recovery before. Some businesses adjusted the gold price down below 90 million VND/tael, such as Mi Hong company selling SJC gold bars at 89.7 million VND/tael.

Similarly, the price of 24K gold rings and jewelry gold of all kinds also decreased when listed by businesses at 87.3 million VND/tael for buying and 90.1 million VND/tael for selling, down 1 million VND per tael compared to the end of yesterday.

Price of SJC gold bars and gold rings drops dramatically

The difference between buying and selling prices continues to maintain its highest level of up to 3 million VND/tael. Domestic gold prices dropped dramatically when world prices "free-fall" below the 2,900 USD/ounce mark.

At the end of the trading session last week, the gold price stopped at 2,883 USD/ounce, down more than 50 USD/ounce compared to the previous session. During the session, there was a time when the gold price dropped vertically by tens of USD/ounce.

The rather surprising development was not only gold, but also the USD. The USD index on the international market continued to fall deeply to 106.6 points, after losing about 1% in the previous session. Analysts said that profit-taking pressure after a period of hot growth for many weeks caused the price of gold to go down.

However, gold prices are still supported by many factors such as the US Federal Reserve (FED) not cutting interest rates in a hurry when inflation is still persistent; conflicts in the Middle East have not cooled down. Especially the US President's constantly changing tariff policies with partners, causing investors to fear instability in the international financial market and seek gold as a defensive channel.

Currently, the world gold price converted according to the listed exchange rate is about 88.9 million VND/tael, only about 1 million VND/tael lower than SJC gold bars and gold rings.

Source: https://nld.com.vn/gia-vang-mieng-sjc-vang-nhan-lai-giam-chong-mat-196250215093514962.htm