On the evening of April 22, the world gold price suddenly dropped again.

At 7:00 p.m. on April 22, Vietnam time, the world gold price was trading at 3,443 USD/ounce, down nearly 60 USD/ounce (equivalent to 1.9 million VND/tael) compared to the peak of the session at 3,500 USD/ounce. This is a sharp decrease in the world gold price after continuous shocking increases in the past few days.

However, the upward trend of world gold prices is still very strong. In just a few days, gold prices have increased from the 3,300 USD/ounce mark to an unbelievable peak of 3,500 USD/ounce in today's session.

According to analysts, the price of gold has increased dramatically in a short period of time, so profit-taking pressure and a downward reversal are difficult to avoid.

However, precious metals are still being supported by many factors such as a weakening USD, falling US bonds, and international stock sell-offs. Gold is becoming a safe haven for international investors.

In the domestic market, at the end of today, the price of SJC gold bars continued to set a new peak, surpassing the 124 million VND/tael mark.

Specifically, businesses such as SJC, PNJ, DOJI simultaneously raised the price of gold bars to 122 million VND/tael for buying and 124 million VND/tael for selling, a total increase of 6 million VND compared to yesterday.

Gold price unexpectedly dropped tonight after days of shocking increases

Similar developments were also recorded in 99.99% gold rings and jewelry gold, when companies listed the buying price at VND116.5 million/tael and the selling price at VND119.6 million/tael. The difference compared to the morning was about VND1 million, bringing the total increase in the past two days to VND6 million/tael.

On the free market, some stores reported the price of SJC gold bars at 124.4 million VND/tael for buying and 126.9 million VND/tael for selling – about 3 million VND higher than the listed price of gold companies. This is also the highest price ever for domestic gold.

Gold price hits new peak of $3,500/ounce, before falling back tonight

In the context of the shocking increase in gold prices, some customers reported having to buy gold at gold shops with a "shocking" price difference. Ms. Bich Le (living in Binh Thanh District, Ho Chi Minh City) said that she bought a 99.99 plain gold ring at a gold shop, priced at 111 million VND/tael, and sold it for up to 119 million VND/tael.

"The buying and selling price range is up to 8 million VND/tael, while plain rings are usually bought and sold. This difference is a record compared to large companies. So the gold shop pushes the risk onto the buyer, causing customers to suffer losses.

According to the listed exchange rate, the converted world gold price is equivalent to about 108.4 million VND/tael, 11-16 million VND/tael lower than the domestic price of SJC gold bars and gold rings.

Source: https://nld.com.vn/toi-22-4-gia-vang-the-gioi-dot-ngot-giam-tro-lai-196250422191245151.htm