World gold price falls vertically

World gold price falls vertically - Screenshot

Gold prices fall because they have increased too much

The above reduction is equivalent to 1.13 million VND/tael.

At 11:30 p.m. tonight, the world gold price was only 2,712.6 USD/ounce. Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 83.27 million VND/tael.

World gold prices fell due to profit-taking pressure as gold prices have increased continuously over the past 20 days with a total increase of 130 USD/ounce, equivalent to 4 million VND/tael and continuously setting all-time records.

In addition, side news about the upcoming US election has caused gold prices to plummet.

The increase in world gold prices has pushed domestic gold prices up very high. Today, SJC Company and banks in the Big4 group listed the selling price of gold bars at 89 million VND/tael.

The purchase price at SJC Company is up to 87 million VND/tael.

Meanwhile, the selling price of 9999 SJC brand gold rings sold at SJC Company reached 88.5 million VND/tael, an increase of 1.3 million VND/tael compared to yesterday and a total increase of 2.4 million VND/tael in just two days.

At Bao Tin Minh Chau Company, the selling price of gold rings skyrocketed from VND87.38 million/tael to VND89 million/tael, equivalent to an increase of VND1.62 million/tael. The difference between buying and selling prices is very large, up to VND2 million/tael.

Similarly, DOJI Company also increased the selling price of 9999 gold rings from 87.2 million VND/tael to 89 million VND/tael, equivalent to an increase of 1.8 million VND/tael. The buying price is at 88 million VND/tael.

Thus, after many days of chasing, the price of 9999 gold rings and the price of SJC gold bars have once again narrowed the gap, even some gold brands' gold ring prices are equal to SJC gold bars.

Domestic gold prices are forecast to fluctuate strongly.

Compared to the converted world gold price, the domestic gold price is 5.73 million VND/tael higher.

It is predicted that if the world gold price continues to plummet, the domestic gold price will decrease tomorrow morning.

However, even though the gold price has decreased, buying gold is still very difficult, especially gold rings because the supply on the market is very scarce.

Meanwhile, if you want to buy SJC gold bars, you have to order online, but it is also difficult to buy because the quantity is limited.

Please read the updated domestic gold price developments HERE.

Source: https://tuoitre.vn/gia-vang-the-gioi-roi-thang-dung-20241023235028964.htm