Many people are worried about selling gold this afternoon as the price has fallen sharply – Photo: THANH HIEP
One day, the price of 9999 gold rings decreased by 5-6 million VND/tael
Later in the day, the world gold price at USD 2,665.3/ounce, up slightly from this afternoon, but the domestic gold price continued to fall due to a strong selling pressure.
Converted according to the exchange rate indicated at the bank, the world price of gold is equivalent to 81.84 million VND/tael.
As indicated by Youth onlineAt the end of the day, SJC listed the sale price of SJC gold bars at 85.5 million VND/tael, and the purchase price at 81 million VND/tael.
Thus, in just one day, the price of SJC gold bars evaporated to 4 million VND/tael in the afternoon of sale. During the afternoon of buying, the price of SJC gold bars lost up to 6 million VND/tael.
The difference between the buying and selling prices of gold also reached a record level: 4.5 million VND/tael, or 2 to 3 times more than a few days ago.
The price of gold rings sold by SJC Company also dropped dramatically to 83.8 million VND/tael, while the purchase price was 81 million VND/tael. So, in just one day, the price of 9999 gold rings decreased by 5,1 million VND/tael on the sellers’ side and 6 million VND/tael on the buyers’ side.
At Bao Tin Minh Chau Company, the selling price of gold rings increased yesterday from 88.43 million VND/tael to 84.08 million VND/tael, a decrease of 4.35 million VND/tael. The purchase price also decreased from 87.33 million VND/tael to 81.28 million VND/tael (down 6.05 million VND/tael).
DOJI Company also reduced the sales price of 9999 gold rings to 4.6 million VND/tael, from 88.4 million VND/tael to 83.8 million VND/tael. The purchase price decreased from 87.3 million VND/tael to 81 million VND/tael, a decrease of 6.3 million VND/tael.
This is a record drop in the price of gold in recent months, causing gold holders to panic and sell.
Be present at the Mi Hong gold boutique at 6 p.m. today, Youth online A large number of people gathered to sell gold even though closing time was near.
Selling because I fear the price of gold will fall further
Gold holders fear that gold prices will fall further – Photo: THANH HIEP
In the queue, Ms. T. (Binh Thanh) held 1 tael of SJC gold bars to sell for 81 million VND/tael. “I saved a tael of gold. The other day the purchase price was 1-87 million VND/tael, but I want to wait for a higher price. Who would have thought that today the price of gold had fallen so sharply that I decided to sell it because I was afraid that tomorrow the price of gold would fall even more,” Ms. T said. with an air of regret.
Meanwhile, Mrs. V. held 2 taels of 9999 gold rings. The purchase price of the gold rings at the end of the day was 80 million VND/tael, with a price of 82.25 million VND/tael.
Ms. V. said she had to sell and wait for the price to drop before buying it back, not knowing when the price of gold would fall. “I’ve heard predictions that after every U.S. presidential election, gold prices will often fall very deeply and for a long time, so I’m very worried,” Ms. V. said.
According to records, although it was the end of the day, the number of people selling gold did not decrease, but became more and more crowded. Mi Hong Gold Shop had to step up security to regulate and organize vehicles as it was also rush hour. so people went to work. There are a lot of people on this road.
Not only in the Mi Hong gold shop, but also in some branches of the PNJ company, gold rings are being sold by people again, whereas before there was often no gold available.
This afternoon, at the PNJ company branch, Le Thanh Ton Street, District 1, when questioned, the company staff said that they had several 9999 gold rings in blister packs, the sale price was 83 .8 million VND/tael while the purchase price is 82.5 million VND/tael. 500 million VND/tael.
PNJ company indicates that the purchase price of gold rings is higher than the purchase price of SJC gold bars – Screenshot
Some people took the opportunity to buy
As the gold market tends to sell off, some people are also taking advantage of the sharp price drop to buy gold. Be present at the SJC Society at 4:45 p.m., Youth online It was found that many people rushed to ask to buy gold. However, company security announced that trading hours were over and promised to return tomorrow morning.
Ms. Tram (District 3) said she had waited a long time for the day when the price of gold would drop sharply, so she wanted to buy it for storage. She is considering buying 1 tael of SJC gold bars, but is worried about whether the price of gold will increase tomorrow morning.
Meanwhile, at Mi Hong Gold Shop, besides the line of people waiting to sell, there were also many people waiting to buy gold rings. Mrs. M. took her young child with her to buy gold and said that she would buy 2 gold rings for now, and that if the price of gold drops further, she would buy more.
The purchase price of SJC gold bars is equal to or lower than the price of gold rings
According to records, a “strange” development in the market is that the current purchase price of SJC gold bars is equal to or lower than the price of gold rings. This was very difficult to achieve before, because the price of SJC gold bars was always 6-8 million VND/tael higher than the price of gold rings. In hot weather, the difference can reach tens of millions of VND/tael.
Specifically, at SJC Company, at the end of the day, the purchase price of SJC gold bars and 9999 gold rings was the same, at 80 million VND/tael. Meanwhile, at PNJ Company, the purchase price of SJC gold bars is only 81 million VND/tael, while the purchase price of gold rings can reach 81 million VND/tael .
Compared to the world converted gold price, the price of SJC gold bars is 3.36 million VND/tael higher. Meanwhile, the price of gold rings is 2 million VND/tael higher than the world converted gold price.
We invite readers to check updates on gold price developments in the domestic market HERE.
