The price of gold rings at Phu Nhuan Jewelry Joint Stock Company (PNJ) today decreased by 550 thousand VND/tael for buying and 500 thousand VND/tael for selling compared to yesterday's closing price, listed at the end of the session at 74.6-76.4 million VND/tael (buy - sell).

Yesterday, the price of gold rings at PNJ decreased by 550 thousand VND/tael for buying and 700 thousand VND/tael for selling.

Thus, from yesterday until now, the price of gold rings at PNJ has decreased by 1.1 million VND/tael for buying and 1.2 million VND/tael for selling.

Bao Tin Minh Chau Company at the end of this afternoon lowered the price of Thang Long Dragon gold rings to 75.12-76.62 million VND/tael (buy - sell), down 400 thousand VND/tael in both buying and selling compared to yesterday's closing price.

Yesterday, the price of Thang Long Dragon Gold Rings decreased by 600,000 VND/tael in both directions. Over the last two sessions, the price of this brand's gold rings decreased by 1 million VND/tael in both directions.

Similarly, Saigon Jewelry Company (SJC) also quickly reduced the price of gold rings. The price of 9999 gold rings of 1-5 chi of SJC in Ho Chi Minh City was bought and sold at the end of this afternoon at 74.8-76.4 million VND/tael, down 400 thousand VND/tael in both directions compared to the closing price yesterday.

Yesterday, SJC also decreased 600 thousand VND/tael in both directions for gold rings. In the last two sessions, the price of gold rings has decreased by 1 million VND/tael.

Chi Hieu 1 wine.jpg
Gold ring prices continue to plummet. Photo: Chi Hieu

This afternoon, Doji Gold and Gemstone Group listed the price of 9999 round smooth gold rings at 75.2-76.65 million VND/tael (buy - sell), down 450 thousand VND/tael in both buying and selling compared to the end of yesterday.

Yesterday, the price of plain round gold rings at Doji also decreased by 450,000 VND/tael in both directions. After two sessions, the price of gold rings at Doji has decreased by 900,000 VND/tael.

Following the same trend, domestic gold bar prices today also fell following a sharp decline from yesterday.

Today's SJC gold bar price decreased by 300 thousand VND/tael each way compared to yesterday's closing price, listed at 87.5-89.5 million VND/tael (buy - sell). In total, the SJC gold bar price decreased by 1.4 million VND/tael in two sessions.

Gold bar prices at Doji on May 24 also decreased by 300,000 VND/tael in both directions compared to yesterday's closing price, closing the session at 87.5-89.3 million VND/tael (buy - sell).

After 2 sessions, the price of gold bars at Doji has decreased by 1.4 million VND/tael for buying and 1.2 million VND/tael for selling.

Meanwhile, in the international market , gold prices have had three consecutive sessions of decline after reaching a historic peak on May 20 at $2,449/ounce.

According to Reuters , gold prices plummeted as investors worried that US interest rates would not be cut soon. Along with that, the US producer price index (PMI) in May hit a 2-year high, pushing the USD price up, making gold less attractive.

At 4:22 p.m. on May 24 (Vietnam time), the spot gold price was at 2,341.1 USD/ounce, down 19.6 USD/ounce compared to last night.

World gold converted at the current exchange rate at Vietcombank costs more than 71.9 million VND/tael (excluding taxes and fees).

Compared to the world gold price, the price of SJC gold bars is 17.6 million VND/tael higher while the price of SJC gold rings is 4.5 million VND/tael more expensive.

Gold price today May 25, 2024: World price drops, SJC remains unchanged at 89.5 million VND

Gold price today May 25, 2024: World price drops, SJC remains unchanged at 89.5 million VND

Gold price today, May 25, 2024, on the world market reversed and decreased at the end of the week. SJC gold bar price remained unchanged at 89.5 million VND/tael (sold) before the information about inspection of gold trading activities.