| Gold price today plummeted, 999.9 gold ring fell close to 76 million VND/tael. 999.9 gold ring sold for 76.18 million VND/tael, holiday trading was quiet. |
Gold price domestic
The plunge in world gold prices has also caused domestic gold prices to reverse and decrease. Accordingly, because the gold market is still on holiday, there is a large gap between the prices of SJC gold and gold rings among businesses.
The price of SJC gold bars decreased slightly on the last day of the holiday. By noon on May 1, the price of SJC gold bars at Phu Quy Group was traded at around 82.60 - 84.70 million VND/tael, down 100,000 VND for both buying and selling compared to yesterday.
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At Bao Tin Minh Chau Company, the listed buying and selling price is around 82.60 - 84.65, down 250 thousand VND/tael for buying and down 150 thousand VND/tael for selling compared to yesterday.
SJC Gold price at Bao Tin Manh Hai Company is trading around 82.65 - 84.75 million VND/tael, down 50 thousand VND/tael for buying and down 50 thousand VND/tael for selling compared to yesterday.
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| Gold price traded at Bao Tin Manh Hai |
In addition, the price of 999.9 gold rings today decreased depending on the brands. 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 73.98 - 75.58 million VND/tael for buying - selling, down 500 thousand VND/tael for buying and down 500 thousand VND/tael for selling compared to yesterday.
Thang Long 999.9 (24k) gold jewelry also decreased by 600 thousand VND/tael in buying price and decreased by 500 thousand VND/tael in selling price, currently trading around 73.30 - 75.30 million VND/tael.
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings of Bao Tin Manh Hai Company are trading around 74.58 - 76.18 million VND/tael for buying and selling, down 100,000 VND/tael for buying and down 100,000 VND/tael for selling compared to yesterday.
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| Gold price traded at Phu Quy Group |
The price of 999.9 gold is around 73.90 - 75.90 million VND/tael; 99.9 gold is traded around 73.80 - 75.80 million VND/tael, down 50 thousand VND/tael for buying and down 50 thousand VND/tael for selling compared to yesterday's session.
The price of Phu Quy 999.9 round gold ring and Phu Quy 1 tael 999.9 of Phu Quy Group is trading around 74.30 - 76.00 million VND/tael; 24K 999.9 gold is trading around 73.20 - 73.10 million VND/tael.
World gold price
At noon today, May 1, Vietnam time, the world gold price continued to drop sharply to 2,282 USD/ounce, "evaporating" a total of about 45 USD/ounce compared to the first session of the week. If calculated from the historical peak of 2,410 USD/ounce set in mid-April, up to now, the gold price has "evaporated" about 128 USD/ounce (-3.9 million VND/tael).
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| World gold price chart this afternoon |
Currently, the world gold price converted according to the listed exchange rate is about 70.2 million VND/tael, about 2-3 million VND lower than gold rings and about 14 million VND/tael lower than SJC gold bars.
World gold prices fell below the key $2,300/ounce mark due to growing concerns that the US Federal Reserve (Fed) will keep interest rates higher for longer following recent "hotter" than expected economic data.
Analysts say that although no change in monetary policy is expected, the Fed’s statement will be closely watched by the market. Recent hotter inflation data has pushed the market’s expectations for the Fed’s first rate cut to the fourth quarter of 2024 or 2025. This scenario will put pressure on world gold prices in the coming time.
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