The price of 9999 gold rings evaporates to 3.8 million VND/tael

This morning, the price of 9999 gold rings evaporated by 3.8 million VND/tael while the price of gold bars decreased by 2 million VND/tael. This is the most shocking decrease in many months.

The price of 9999 gold rings today has plummeted after the decrease in world gold prices - Photo: TT

Domestic gold prices plummet following world gold prices

From the threshold of 2,800 USD/ounce, the world gold price has continuously decreased to 2,657.7 USD/ounce this morning, November 7.

Thus, compared to the established peak of 2,787.1 USD/ounce, the world gold price has evaporated 129.4 USD/ounce, equivalent to 3.97 million VND/tael.

At the current price, converted according to the listed exchange rate at the bank, the world gold price is equivalent to 81.61 million VND/tael.

Thus, the world gold price has followed the rule of increasing first and decreasing later during the last 6 US presidential elections. The decline of gold after the US presidential election is often very deep.

Experts predict that the world gold price will likely break through the threshold of 2,600 USD/ounce before recovering.

Gold ring price in some places decreased up to 4.4 million VND/tael

This morning, the selling price of SJC gold bars at SJC Company and four banks in the Big 4 group dropped sharply by 2 million VND/tael, selling at 87 million VND/tael, buying at 84 million VND/tael.

The difference between buying and selling prices has widened to 3 million VND/tael, while in previous days it was only 1.5 - 2 million VND/tael.

The selling price of 9999 gold rings sold at SJC Company also dropped sharply, from 88.9 million VND/tael to 85.1 million VND/tael, equivalent to a decrease of 3.8 million VND/tael. The buying price was only 83.3 million VND/tael, equivalent to a decrease of 3.7 million VND/tael.

At Bao Tin Minh Chau Company, the selling price of gold rings decreased from VND88.43 million/tael to VND85.36 million/tael, equivalent to a decrease of VND3.07 million/tael. The buying price also decreased from VND87.33 million/tael to VND83.36 million/tael.

DOJI Company also reduced the selling price of 9999 gold rings by 4.4 million VND/tael, from 88.4 million VND/tael to 84 million VND/tael. The buying price decreased from 87.3 million VND/tael to 82.1 million VND/tael, equivalent to a decrease of 5.2 million VND/tael.

Compared to the converted world gold price, the price of SJC gold bars is 5.39 million VND/tael higher. Meanwhile, the price of gold rings is 3.49 million VND/tael higher than the converted world gold price.

Source: https://tuoitre.vn/gia-vang-nhan-9999-boc-hoi-den-3-8-trieu-dong-luong-20241107104242806.htm