| Gold price reversed and decreased after reaching the peak, 999.9 gold ring sold for 75.45 million VND/tael. SJC gold price today increased by another 3.3 million, the market sold for 92 million VND/tael. |
Gold price at noon on May 10, on the world market, the price of gold closed the weekend session at 2,360 USD/ounce, up 1 USD compared to the closing price in New York the night before. This price after conversion is equivalent to 72.5 million VND/tael, lower than SJC gold by about 18.6 million VND/tael and lower than ring gold by nearly 5 million VND/tael.
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| World gold price chart |
Last week, the world gold price recovered, reaching a two-week high as investors increasingly believe that the US Central Bank will soon loosen monetary policy. Recently released data shows that the US economy is cooling down, which makes the US Federal Reserve (FED) cut interest rates soon.
According to experts, concerns about the employment situation are often the first “cracks” in the economy and can lead to the first rate cut by the Fed. However, to be more certain about the Fed's interest rate trajectory, the market will have to wait for data on the US producer price index and consumer price index to be released next week.
In the domestic market, the price of SJC gold bars has decreased after a meteoric rise yesterday.
Specifically, the price of SJC gold bars at Phu Nhuan Jewelry Joint Stock Company was traded at around 88.80 - 91.30 million VND/tael for buying and selling, down 100,000 VND/tael for buying and down 500,000 VND/tael for selling compared to yesterday. The difference between buying and selling narrowed to 2.5 million VND/tael.
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| Gold price traded at Phu Quy Group |
The price of SJC gold bars at Phu Quy Group is traded at around 89.00 - 91.20 million VND/tael for buying and 800 thousand VND/tael for selling compared to yesterday.
SJC gold price listed by Bao Tin Minh Chau Company and Bao Tin Manh Hai Company is around 88.80 - 91.20 million VND/tael for buying and 800 thousand VND/tael for selling compared to yesterday.
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| 999.9 gold ring selling price 77.20 million VND |
Contrary to the downward trend of SJC gold price, the price of 999.9 gold rings today increased sharply with prices depending on each enterprise. Specifically, the price of 999.9 gold rings (24k), the price of Thang Long dragon gold bars, and plain round rings at Bao Tin Minh Chau Company traded at 75.43 - 76.93 million VND/tael for buying - selling, an increase of 410 thousand VND/tael for buying and 390 thousand VND/tael for selling compared to yesterday.
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings of Bao Tin Manh Hai Company are trading around 75.43 - 76.93 million VND/tael for buying and selling, an increase of 350 thousand VND/tael for buying and an increase of 350 thousand VND/tael for selling compared to yesterday.
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| Gold price traded at Bao Tin Manh Hai Company |
The price of Phu Quy 999.9 round gold ring and Phu Quy 1 tael 999.9 of Phu Quy Group is trading around 75.75 - 77.20 million VND/tael; an increase of 700 thousand VND/tael for buying and 600 thousand VND/tael for selling compared to yesterday.
To control the gold market, Deputy Prime Minister Le Minh Khai has just issued Document No. 213/TB-VPCP dated May 10, 2024, requesting urgent implementation of specialized inspections and examinations of the gold market, activities of gold production and trading enterprises, stores, distribution agents and gold bar trading.
Source: https://congthuong.vn/gia-vang-tang-khong-kiem-soat-vang-nhan-9999-ban-ra-7720-trieu-dongluong-319492.html
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