Buyers lose 6 million VND/tael of gold if they miss the peak of 100 million VND/tael

Gold price down at the end of the week

At the end of the trading week from March 17 to March 22, the price of SJC gold bars was listed by large enterprises at VND94.4-97.4 million/tael (buy - sell). In the last trading session of the week, the gold price was adjusted down by VND300,000 each way.

However, compared to the trading session on March 20, when this commodity reached its historical peak, each tael of gold has decreased by 3.7 million VND for buying and 2.7 million VND for selling.

Thus, if you accidentally buy gold bars at the peak of 100.1 million VND/tael, the buyer will suffer a loss of 5.7 million VND.

The price of plain gold rings at SJC ended this week listed at 94.3-97 million VND/tael (buy - sell), down 300,000 VND each way before closing the week. Compared to the peak set, the price has decreased by 4.1 million VND for buying and 3.3 million VND for selling.

Buyers who accidentally "hit the peak" of gold rings at 100.3 million VND/tael would have suffered a loss of 6 million VND.

The price of gold rings increased, but this week, there were times when people wanted to buy them but it was not easy. During the days when the price of gold rings reached a historical peak, according to a survey by Dan Tri reporters, large gold trading units in the market were crowded with customers coming to buy gold, but each person could only buy a maximum of 1 tael. There were times when the gold shops ran out of 1 tael items, people had to switch to buying plain rings of 0.5 tael, 2 tael, 5 tael.

However, in the session on March 21, when gold rings fell sharply and lost the historical mark of 100 million VND/tael, the number of customers coming to buy was somewhat less. Instead of buying a limited number of gold rings, most large gold shops said that customers could buy as much as they wanted.

Domestic price movements coincided with world prices. World gold prices fell at the end of the week, to $3,023/ounce. Previously, world gold had reached a historic peak of $3,057/ounce on March 20. Over the past three consecutive weeks, geopolitical and economic instability, along with the prospect of interest rate cuts by the US Federal Reserve (Fed), have helped bullion prices maintain their upward momentum.

However, prices quickly reversed course after the Fed ended its monetary policy meeting with a decision to keep the federal funds rate unchanged. If only counting the weekend session, gold prices lost more than 1%.

Gold ring buyers suffer heavy losses (Photo: Tien Tuan).

The recovery of the US dollar also put pressure on gold, causing the precious metal to fall. The US dollar index, which measures the greenback's strength against a basket of major currencies, rose 0.2% to 104.05 points and hit a two-week high, making gold priced in dollars more expensive for foreign buyers.

Gold is often seen as a safe haven during times of economic and political turmoil and tends to rise in value when interest rates are low. Since the beginning of the year, prices have hit new highs 16 times.

Experts also emphasized that the adjustment of gold is normal and the upward trend of gold is still intact. On April 2, US President Donald Trump plans to announce reciprocal import tariffs on all of the country's trading partners. Accordingly, the US will impose tariffs on goods from other countries equivalent to the level they currently impose on US goods. Countries that apply a value-added tax system are also considered to impose import tariffs.

Global trade tensions have been rising over the past few months, as the US has imposed successive import tariffs on its partners. So far, Donald Trump has imposed tariffs on goods from Mexico, Canada, and China, increased tariffs on steel and aluminum, threatened tariffs on the European Union, and imposed separate tariffs on cars, pharmaceuticals, and chips imported into the US. China, Canada, and the EU have all announced their own retaliatory policies.

The Fed left interest rates unchanged this week, as previously expected. Traders are expecting at least two rate cuts this year, each by 25 basis points (0.25%), with the first cut almost certain to come in July.

Datnri.com.vn

Source: https://dantri.com.vn/kinh-doanh/nguoi-mua-lo-6-trieu-dongluong-vang-neu-lo-du-dinh-100-trieu-dongluong-20250322114913840.htm