Gold price falls freely, investors lose millions of dong?

On May 26, 2024, in the weekend trading session, domestic gold prices were kept stable by brands.

Saigon Jewelry Company Limited - SJC listed the price of SJC gold in Hanoi and Da Nang at 87.5 million VND/tael for buying and 89.5 million VND/tael for selling.

Similarly, DOJI brand also kept the price of SJC gold stable compared to yesterday's trading session. At the end of the week, SJC gold traded around 87.5 - 89.3 million VND/tael for buying and selling.

At the end of the week's trading session, SJC gold price at PNJ was listed at 87.5 million VND/tael for buying and 89.4 million VND/tael for selling.

Bao Tin Minh Chau brand also listed SJC gold price at 87.7 million VND/tael for buying and 89.3 million VND/tael for selling.

Gold price forecast for May 27, 2024, some experts predict, gold price will fall freely, investors will lose millions of dong?. Illustrative photo

During the past week, from May 20 to 26, 2024, the domestic SJC gold price turned to decrease slightly. Early morning of May 20, 2025, Saigon Jewelry Company Limited - SJC listed the SJC gold price at 87.7 - 90.4 million VND/tael for buying and selling. As of the end of this afternoon, the SJC gold price at this unit was adjusted down by 200,000 VND/tael for buying and down by 900,000 VND/tael for selling.

Similarly, Bao Tin Minh Chau brand also adjusted down 150,000 VND for buying price and down 1.2 million VND/tael,

Thus, if investors and people buy gold bars at SJC in the morning trading session on May 20, 2024 at VND 90.4 million/tael and sell them this afternoon, May 26, 2024 at VND 87.5 million/tael, the current loss is VND 2.9 million per tael.

For gold rings, the price of gold rings fell sharply on the weekend, not following the same trend as the price of gold bars.

Accordingly, the price of 9999 gold rings at Bao Tin Minh Chau is listed at 75.16-76.66 million VND/tael (buy - sell). Compared to the closing price of the previous trading session, the price of gold rings decreased by 560,000 VND/tael for buying and 460,000 VND/tael for selling.

Last week, the domestic gold market tended to decrease more than increase, because the State Bank successfully organized two consecutive gold auctions on May 21 and 23, 2024. The successful organization of the gold auctions helped supplement the domestic gold supply, and contributed to cooling down the domestic gold price.

However, according to many experts and veteran investors in the market, the decrease in gold prices is still very slow compared to the gold supply released to the market.

An economic expert said that after 9 auctions, the State Bank has released a total of 48,500 taels of SJC gold bars, equivalent to more than 1.8 tons of gold, to the market, but the decline in domestic gold prices is still quite "cautious". "In addition to the factor from the successful organization of gold auctions, domestic gold prices in recent days have decreased following the world trend. Because the world gold price has decreased for the fourth consecutive session this week" - this expert commented.

In the world market, late this afternoon, the world gold price ended a week of strong fluctuations with spot gold at 2,333.3 USD/ounce, down more than 80 USD compared to the beginning of the week. Gold futures last traded at 2,335.2 USD/ounce.

Looking ahead to the gold price trend, Kitco News' latest weekly gold survey found that more than three-quarters of industry experts believe gold prices will remain flat or fall in the near term.

With comments from the world market, many domestic experts predict that next week, SJC gold prices will fluctuate less and the trend of gold prices decreasing will be more than increasing.

Source: https://congthuong.vn/du-bao-gia-vang-ngay-2752024-gia-vang-roi-tu-do-nha-dau-tu-lo-ca-trieu-dong-322463.html