(NLDO) – The price of SJC gold bars and gold rings both decreased, the buying price fell far below the 89 million VND/tael mark.
On the morning of February 28, SJC, PNJ, and DOJI companies simultaneously listed the price of SJC gold bars at 88.9 million VND/tael for buying and 90.8 million VND/tael for selling, down 300,000 VND/tael compared to the end of yesterday.
The difference between buying and selling prices has narrowed to 2 million VND/tael. In fact, the difference between buying and selling at Mi Hong is only 600,000 VND/tael, because this gold shop raised the buying price to 90.3 million VND/tael and the selling price to 90.9 million VND/tael.
Compared to the peak of 93.1 million VND/tael set 2 weeks ago, the price of gold bars has now "evaporated" about 2.2 million VND/tael.
Similarly, the price of 99.99 gold rings and jewelry gold also decreased by VND300,000/tael, down to VND88.9 million/tael for buying and VND90.8 million/tael for selling.
Domestic gold prices fell sharply following the downward trend of world prices.
On the international market, the precious metal is trading at $2,875/ounce, down another $15/ounce compared to yesterday. Last night, there was a time when the gold price plummeted to $2,867/ounce, $100/ounce lower than the previous record peak.
Gold price today decreased sharply for both SJC gold bars and gold rings.
According to analysts, gold prices are under pressure to fall as investors take profits after a period of hot growth. Most recently, the US President's contradictory speech related to tariffs applied to trading partners such as Mexico, Canada and China.
Economic analysts warn that escalating trade tensions could lead to slower economic growth and possibly higher inflation in all three North American countries.
Persistently high inflation could force the US Federal Reserve (FED) to keep interest rates at current levels, instead of implementing the previously predicted rate cuts.
The strong increase in the USD index put pressure on the price of gold. The USD index is currently trading at 107.2 points, up 0.74% compared to the previous session.
Currently, the world gold price converted according to the listed exchange rate is about 89.2 million VND/tael.
Source: https://nld.com.vn/gia-vang-mieng-sjc-vang-nhan-rot-manh-khoi-moc-91-trieu-dong-luong-196250228093129631.htm
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