The price of 9999 gold rings remains at the peak despite the world gold price turning to decrease.

World gold prices have turned down after continuously reaching new peaks in recent times, but domestic gold prices remained stable on the morning of September 18. Ring gold is still trading at a historical peak of over 79 million VND/tael.

At around 9:00 a.m. on September 18, SJC Company, PNJ, and Doji Group all listed the price of SJC gold at 80 million VND/tael for buying and 82 million VND/tael for selling - the price remained unchanged from yesterday.

The selling price of SJC gold at 4 State-owned commercial banks (BIDV, Agribank, Vietinbank and Vietcombank) this morning is still at 82 million VND/tael.

The price of 9999 gold rings also remained “unmoved” at the peak price set on Monday of the week. Specifically, SJC Company listed the price at 77.9 million VND/tael for buying and 79.2 million VND/tael for selling. PNJ Company also quoted the price at 78 million VND/tael for buying and 79.2 million VND/tael for selling.

People buy gold at a gold shop.

In the world gold market, the closing price of gold in New York on the night of September 17 was 2,569 USD/ounce, down 13 USD compared to the previous session. The spot gold price on the Kitco floor on the morning of September 18 (Vietnam time) increased to 2,572 USD/ounce. Compared to the peak of the world gold price the previous day at 2,585 USD/ounce, the world gold price has now decreased by about 13 USD. This price after conversion is equivalent to 76.8 million VND/tael, lower than SJC gold by about 5.2 million VND/tael and lower than 9999 ring gold by about 2.4 million VND/tael.

The world gold price has turned down after consecutively reaching historical peaks, before the time the US made a turning point decision on monetary policy, mainly due to investors taking profits. However, the world gold price has now increased by nearly 25% (about 514 USD/ounce) compared to the beginning of 2024.

Gold prices on the international market fell mainly due to profit-taking pressure after gold set a record high in recent sessions. Investors' caution at the time when the US Federal Reserve (FED) entered a very important 2-day meeting, from September 17 (local time) for many years. Investors knew that the FED would definitely cut interest rates, but the remaining issue was whether the reduction would be 0.25% or 0.5%.

Nhung Nguyen

Source: https://www.sggp.org.vn/gia-vang-nhan-9999-van-neo-o-dinh-bat-chap-vang-the-gioi-quay-dau-giam-post759458.html