Gold ring price reverses to increase, market 'turns around' to buy

9999 round gold rings turn to increase, the number of people buying gold gradually increases

At 5:00 p.m. on November 8, 9999 round gold rings were traded by many gold trading brands in Hai Duong City such as Bao Tin Manh Hai, Hai Hong, Doji, PNJ, HJL at around 84.5-85.12 million VND/tael for sale and 83-83.32 million VND/tael for purchase.

This trading price gradually increased from the beginning of the morning session of the same day, increasing sharply to more than 1.2 million VND/tael for selling, increasing more than 2 million VND/tael for buying compared to the closing price of the last trading session on November 7.

Previously, gold rings recorded a price decrease from the end of November 6. At the end of the trading session on November 6, gold rings were traded at around VND88.43 million/tael for selling and VND87.35 million/tael for buying.

At the beginning of the morning trading session on November 7, the trading price decreased to 86.23 million VND/tael for selling and 84.63 million VND/tael for buying.

Although the market has 'turned around' to buy, with the fear that gold rings will have another short-term price drop, people mainly buy in small quantities.

Then it dropped to the lowest level at 4:00 p.m. on November 7, at VND83.88 million/tael for selling and VND81.28 million/tael for buying. This price decreased by nearly VND5 million/tael for selling and more than VND6 million/tael for buying compared to the trading price on the morning of November 6.

Regarding transaction volume, the sharp drop in gold prices led to a sell-off on November 7, with hundreds of gold sales from people. The largest sale transaction was worth nearly VND1.5 billion, equivalent to 15 taels of gold.

The price of gold reversed and increased since the early morning of November 8, affecting the market. The number of people coming to gold shops gradually decreased, down to an average of 10 visits/shop. The number of gold purchases gradually increased, with an average of 40 visits/shop. However, people mainly bought gold in small quantities, from 5 taels or less.

The fact that people are buying gold rings in small quantities, while they have already “dumped” a large amount of this metal, shows that they are afraid that there will be another price reduction in the short term. According to the managers of some of the gold shops mentioned above, the market exploration situation may last for the next few days.

HA KIEN

Source: https://baohaiduong.vn/vang-nhan-dao-chieu-tang-gia-thi-truong-quay-dau-mua-vao-397561.html