Gold price drops sharply, falls below 121 million VND/tael

This morning, July 16, the domestic gold price decreased by 500,000 VND/tael, slipping below the 121 million VND/tael mark. This development originated from the international market.

Gold prices fell sharply. Photo: TH

Last night's trading session, the world gold price reached 3,367 USD/ounce. Therefore, investors rushed to sell, causing the price of the precious metal to drop sharply to 3,324 USD/ounce, while at the same time the previous day it was around 3,345 USD/ounce.

In addition to the reason investors increased selling, the gold price decreased because the USD price increased.

At 9:00 a.m., the gold price was trading at 3,331.9 USD/ounce, about 15 million VND/tael lower than the domestic gold price.

In the domestic market, at nearly 9:00 a.m., Saigon Jewelry Company listed the price of 1-5 tael gold rings at 114.1 million VND/tael (buy) - 116.6 million VND/tael (sell), down 500,000 VND/tael each way compared to the end of the previous day.

Phu Quy Group reduced 400,000 VND/tael each way, to 114.6 million VND/tael (buy) - 117.6 million VND/tael (sell)
Bao Tin Minh Chau Company Limited listed the price at 115.3 million VND/tael (buy) - 118.3 million VND/tael (sell) instead of the previous price of 115.8 million VND/tael (buy) - 118.8 million VND/tael (sell).

The price of SJC gold bars also dropped sharply. Enterprises set it at 118.6 million VND/tael (buy and) - 120.6 million VND/tael (sell).

Source: https://hanoimoi.vn/gia-vang-giam-manh-tuot-moc-121-trieu-dong-luong-709216.html