Domestic gold price suddenly dropped by 1 million dong/tael

, Domestic gold price suddenly dropped by 1 million dong/tael

This morning (28/9), a series of gold, silver and gemstone businesses sharply adjusted the price of SJC gold, increasing by about 100-200 thousand dong/tael when it opened, but after only a few tens of minutes, it dropped sharply by 1 million dong/tael.

Early in the morning when opening today, DOJI Group slightly increased the price of SJC gold by about 100 thousand dong/tael, but after only a few tens of minutes, it sharply decreased by 1 million dong/tael, now only listed at 63, 5-64.5 million VND/tael.

Similarly at Phu Nhuan Jewelry (PNJ), the price of SJC gold increased by about 200,000 VND/tael when it opened and after only a few dozen minutes, it was turned down again. Currently, the price of SJC gold bars here has decreased to 63.5-64.5 million VND/tael, 900 thousand VND/tael lower than in the early morning.

Saigon jewelry also reduced the price of SJC gold to 63.3-64.5 million VND/tael. Bao Tin Minh Chau listed 63.35-64.3 million VND/tael.

Accordingly, SJC gold price has reached the lowest level in the past 2 months. The sharp drop this morning caused many surprises when the domestic gold price has been moving sideways for many days, despite the sharp decline in the world gold price.

In the international market, the spot gold price is standing at $1,624 per ounce, the lowest since March 2020. Converted at the bank rate, the world gold price is equivalent to 46.7 million VND/tael (excluding taxes and fees), “cheaper” than the domestic gold price by 17.7 million VND/tael.

Gold in the world has also fluctuated strongly, going up and down again. Overall, the precious metal remains under pressure against the strongest greenback in 20 years. European and Asian stock markets turned positive again today, causing gold prices to drop.

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Source: CafeF

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