(NLDO) - Despite the sharp drop in world gold prices, the prices of SJC gold bars and 99.99 gold rings remain high as demand increases.
On the morning of January 28 (29th of Lunar New Year), the price of SJC gold bars was listed by some businesses in Ho Chi Minh City at 86.4 million VND/tael for buying and 87.7 million VND/tael for selling - maintaining a high level compared to the end of yesterday.
Some gold shops traded gold bars at lower prices, around VND86.3 million/tael for buying and VND87.1 million/tael for selling.
Notably, the price of 99.99 gold rings and jewelry gold also skyrocketed, equal to the price of SJC gold bars. Some gold shops listed the buying price of gold rings at VND86.3 million/tael and the selling price at VND87.7 million/tael - an increase of about VND1.2 million compared to yesterday morning.
Previously, at the end of yesterday, the price of gold rings skyrocketed to 87.7 million VND/tael.
SJC gold bar price remains high despite world price decrease
The domestic gold market is entering the Lunar New Year holiday, so there is a price gap between businesses. Many commercial banks and large gold companies have temporarily suspended transactions.
The domestic gold price remaining high is an unexpected development compared to the sharp decline in world gold prices.
In the international market, the price of gold today dropped sharply to 2,739 USD/ounce, losing about 20 USD/ounce compared to yesterday morning.
Gold prices fell as investors took profits and the US dollar recovered. The US dollar index this morning reached 107.7 points, up 0.51% compared to the previous session.
According to analysts, the price of SJC gold bars and gold rings remains high because people's demand for physical gold is increasing near Tet.
In recent years, domestic gold prices have maintained an upward trend from before Tet until before God of Wealth Day (January 10).
Currently, the world gold price converted according to the listed exchange rate is about 83.6 million VND/tael.
Some gold shops sell SJC gold rings and gold bars at the same price.
Source: https://nld.com.vn/ngay-29-tet-gia-vang-nhan-tang-vot-vang-sjc-van-cao-196250128104330541.htm
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