World gold price recovers, domestic gold price decreases

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At around 9:45 a.m., the price of SJC gold bars at Mi Hong gold shop (Ho Chi Minh City) decreased by 500,000 VND for both buying and selling compared to yesterday afternoon, listed at 95.5 million VND/tael for buying and 97 million VND/tael for selling.

SJC and PNJ companies reduced both buying and selling prices by VND200,000, listed at VND94.9 million/tael for buying and VND97.4 million/tael for selling.

Bao Tin Minh Chau Company also reduced the buying price by 300,000 VND and the selling price by 200,000 VND, listing at 95 million VND/tael for buying and 97.4 million VND/tael for selling.

Phu Quy Group also reduced the buying price by VND100,000 and the selling price by VND200,000, listing it at VND95 million/tael for buying and VND97.4 million/tael for selling.

The price of 9999 gold rings also decreased this morning. PNJ Company reduced the buying price by 300,000 VND and the selling price by 200,000 VND compared to yesterday, trading at 95.6 million VND/tael for buying and 98.2 million VND/tael for selling.

SJC Company also reduced 200,000 VND in both buying and selling prices, trading at 94.8 million VND/tael for buying and 97.2 million VND/tael for selling.

Bao Tin Minh Chau Company reduced the buying price by 200,000 VND and the selling price by 300,000 VND, quoting the price at 95.8 million VND/tael for buying and 98.3 million VND/tael for selling.

Phu Quy Group reduced both buying and selling prices by 300,000 VND, listing the price of 9999 gold rings at 95.5 million VND/tael for buying and 98.2 million VND/tael for selling.

In the world gold market, the closing price of gold in New York on the night of March 24 was at 3,011.5 USD/ounce, down 11.9 USD compared to the previous session. The spot gold price on Kitco at around 10:00 on March 25 (Vietnam time) increased to 3,030.4 USD/ounce, up nearly 20 USD compared to the closing price in New York. This price after conversion is equivalent to 94 million VND/tael, lower than SJC gold bars by about 3 - 3.4 million VND/tael and lower than 9999 gold rings by about 3.2 - 4.3 million VND/tael.

The world gold price is still trading above 3,000 USD/ounce as the USD continues to recover and the US Treasury bond yield also increases. Analysts believe that the gold price may be entering a period of accumulation and adjustment. However, after being sold off in the last 3-4 trading sessions, investors will soon return to the market and push the gold price to a new record high. Forexlive.com experts said that profit-taking after the recent increase in gold is normal and that gold holding above 3,000 USD/ounce is an important milestone.

According to NHUNG NGUYEN (SGGP)

Source: https://baodongthap.vn/thi-truong/gia-vang-the-gioi-phuc-hoi-gia-vang-trong-nuoc-giam-130136.aspx