This morning (April 13), the price of gold rings was adjusted down sharply by all brands, bringing the selling price down to 76 million VND/tael.

At 10:41 a.m. on April 13, DOJI Gold and Gemstone Group listed the price of plain round gold rings at 74.25-76.35 million VND/tael (buy - sell). Compared to the closing price yesterday, the price of plain round gold rings at DOJI this morning decreased by 2 million VND/tael in both buying and selling.

Similarly, the price of gold rings of other brands also decreased rapidly.

At 11:22, Bao Tin Minh Chau Company lowered the price of Thang Long Dragon gold rings to 74.38-76.48 million VND/tael (buy - sell), down 1.51 million VND/tael for buying and down 1.31 million VND/tael for selling compared to yesterday's closing price.

Saigon Jewelry Company (SJC) also sharply reduced the price of gold rings. At 9:56 a.m., SJC listed the price of 9999 gold rings of 1-5 chi in Ho Chi Minh City at 74.3-76.2 million VND/tael (buy - sell), down 1.05 million VND/tael for buying and down 950 thousand VND/tael for selling compared to the closing price yesterday.

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Gold ring prices drop rapidly. Photo: Minh Hien

Phu Nhuan Jewelry Joint Stock Company (PNJ) this morning also adjusted down 1.15 million VND/tael for buying and down 1 million VND/tael for selling compared to yesterday's closing price, buying - selling at 74.3-76.25 million VND/tael.

Following the same trend, the domestic gold bar price today also decreased rapidly, returning to the 83 million VND/tael mark in the selling direction.

From opening to 9:56 a.m., the price of SJC gold bars was reduced 3 times with a total decrease of 1.9 VND/tael for buying and 1.4 million VND/tael for selling, listed at 80.6-83.1 million VND/tael (buying - selling).

By noon today, the price of gold bars at DOJI decreased by 2.2 million VND/tael for buying and 1.7 million VND/tael for selling compared to yesterday's closing price. At noon today, DOJI listed the price of gold bars in Hanoi at 80.6-83.1 million VND/tael (buying - selling).

Domestic gold prices fell rapidly in the context of world gold prices suddenly plummeting after reaching a peak.

At 10:54 a.m. on April 12 (Vietnam time), the world spot gold price was at 2,342.9 USD/ounce, down 53.1 USD/ounce compared to last night.

Converted at the current exchange rate at Vietcombank, world gold is currently priced at more than 71.12 million VND/tael (excluding taxes and fees).

Compared to the world gold price, each tael of SJC gold bar is about 11.98 million VND more expensive, while the price of SJC gold rings is 5.08 million VND higher.

The price of SJC gold bars reversed and decreased sharply after the State Bank announced on April 12 that it was ready to intervene in the gold market and would immediately increase the supply of gold bars to the market to handle the high difference between domestic and world gold prices.

Previously, on April 11, the Government Office issued a notice of the Prime Minister's conclusion at a meeting on solutions to manage the gold market in the coming time. In which, the Prime Minister requested the State Bank to intervene promptly and immediately handle the situation of the high difference between domestic and international gold prices.

The price of gold rings is high, people rush to sell to make a profit . The price of gold rings is high, gold shops are crowded with people coming to trade. The psychology of taking profit is overwhelming for sellers, while buyers are hesitant.