Domestic gold price leaves historical peak

On the morning of April 23, the price of SJC gold bars by businesses such as SJC, PNJ, DOJI simultaneously decreased to 120 million VND/tael for buying and 122 million VND/tael for selling, a loss of 2 million VND/tael compared to the end of yesterday.

Similar developments were also recorded in 99.99% gold rings and jewelry gold, when companies listed the buying price at 114 million VND/tael and the selling price at 117 million VND/tael, down 2.6 million VND/tael.

The price of gold rings suddenly dropped more than that of SJC gold bars.

On the free market, the price of SJC gold bars was reported by some stores at around 121 million VND/tael for buying and 123 million VND/tael for selling – a drop of 3.5 million VND/tael compared to the end of yesterday. The price of gold was adjusted down more sharply by gold shops than by companies.

However, the decline in domestic gold prices is still not as steep as the decline in world prices. In the international market, gold prices today had a vertical drop, losing about 125 USD/ounce (about 4 million VND/tael), down to 3,373 USD/ounce.

Domestic gold prices plummet

After reaching an all-time high of 3,500 USD/ounce, the world gold price faced profit-taking pressure and then plummeted during the session last night and early this morning. At one point, the gold price fell to 3,319 USD/ounce, losing nearly 180 USD/ounce from its peak.

According to analysts, the price of gold has dropped by hundreds of dollars per ounce as US President Donald Trump withdrew his announcement to fire the Chairman of the US Federal Reserve (FED) - Mr. Jerome Powell. At the same time, Mr. Trump expressed his desire for the FED to lower interest rates to boost economic growth.

In response to this information, the US stock market recovered strongly. The Dow Jones index increased sharply by 1,016 points, Nasdaq increased by 429 points and S&P 500 increased by 129 points. The improvement in market sentiment caused investors to reduce their demand for gold as a safe haven, shifting capital to stocks...

Currently, the world gold price converted according to the listed exchange rate is about 106.4 million VND/tael.

Source: https://nld.com.vn/gia-vang-trong-nuoc-roi-dinh-lich-su-196250423092812614.htm