| SJC gold price falls to 80 million VND/tael, investors lose millions more Gold price today "skyrocketed", 999.9 gold ring is 1.5 million VND more expensive than yesterday |
Domestic gold price
At noon on March 23, the price of SJC gold increased by 350 thousand VND/tael compared to yesterday. Specifically, the price of SJC gold traded at Saigon Jewelry Company in Ho Chi Minh City was around 78.00 - 80.30 million VND/tael, equal to the buying price and increased by 300 thousand VND/tael for the selling price compared to the closing price yesterday. The difference between buying and selling is 2.3 million VND/tael.
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The price at Saigon Jewelry Company in Hanoi is around 78.00 - 80.32 million VND/tael, equal to the buying price and up 300 thousand VND/tael for the selling price compared to yesterday's closing price. The difference between buying and selling is 2.3 million VND/tael.
The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 78.05 - 79.95 million VND/tael, an increase of 350 thousand VND/tael for buying and 350 thousand VND/tael for selling compared to the previous closing price.
At Phu Quy Group, the price of SJC gold bars is currently trading around 78.00 - 80.00 million VND/tael for buying and selling, an increase of 400 thousand VND/tael for buying and an increase of 100 thousand VND/tael for selling compared to yesterday.
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The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 78.05 - 79.95 million VND/tael, an increase of 300,000 VND/tael for buying and 300,000 VND/tael for selling compared to the previous closing price.
In addition, the price of 999.9 gold rings (24k) reversed to decrease following the world price. Specifically, the price of Thang Long dragon gold bars and plain round rings at Bao Tin Minh Chau Company was traded at 68.33 - 69.63 million VND/tael for buying - selling, down 350 thousand VND/tael for buying and down 350 thousand VND/tael for selling compared to yesterday.
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| Gold price traded at Bao Tin Manh Hai |
Thang Long 999.9 (24k) gold jewelry is trading around 67.55 - 69.35 million VND/tael, down 350 million VND/tael for buying and down 350 thousand VND/tael for selling compared to yesterday.
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings are being traded at Bao Tin Manh Hai Company at around 68.33 - 69.63 million VND/tael for buying and selling, down 350 thousand VND/tael for buying and down 350 thousand VND/tael for selling compared to yesterday's closing price.
The price of 999.9 gold is around 67.35 - 69.35 million VND/tael, down 350 thousand VND/tael for buying and down 350 thousand VND/tael for selling compared to yesterday's closing price. The price of 99.9 gold is currently around 67.25 - 69.25 million VND/tael, down 350 thousand VND/tael for buying and down 350 thousand VND/tael for selling compared to yesterday's closing price.
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| Gold price traded at Phu Quy Group |
At Phu Quy Group, Phu Quy 999.9 round rings and Phu Quy 999.9 God of Wealth rings are trading around 68.30 - 69.60 VND/tael, down 200,000 VND/tael for buying and down 300,000 VND/tael for selling compared to yesterday.
24K 999.9 gold is trading around 67.80 - 69.30 million VND/tael, down 200 thousand VND/tael for buying and down 400 thousand VND/tael for selling compared to yesterday.
World gold price
In the international market, the precious metal closed the week trading at 2,165 USD/ounce, down sharply by about 15 USD/ounce compared to the previous session. Currently, the world gold price converted according to the listed exchange rate is about 65.2 million VND/tael, lower than gold rings by about 3.8 million VND/tael and lower than SJC gold bars by about 14.8 million VND/tael.
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| World gold price chart this afternoon |
This difference has narrowed significantly compared to the level of about 16-17 million VND/tael a few weeks ago, especially narrowed compared to the record peak of about 18-19 million VND/tael between SJC gold and the world at the end of last year.
Gold prices fell in early U.S. trading as short-term futures traders booked profits after prices hit a record high. A rebound in the U.S. dollar late in the week also weighed on gold prices.
Earlier, the US Federal Reserve (Fed) signaled the possibility of cutting interest rates three times this year, even if inflation is above the 2% target. This helped push gold prices to a new record high. On March 21, the world gold price rose to a new record of over 2,200 USD/ounce. Since mid-February, gold prices have increased by 12%.
Traders are pricing in a 72% chance the Fed will start cutting rates by June 2024, up from 65% before the latest meeting decision.
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