Gold prices fall from historic peak, ending rising streak

After a series of rising days, on the morning of September 8, domestic gold prices reversed, falling from the historical peak of 135.4 million VND/tael.

After a series of rising days, on the morning of September 8, domestic gold prices reversed, falling from the historical peak of 135.4 million VND/tael.

Opening the market, gold trading enterprises listed the price of SJC gold bars at 133.1 million VND/tael (buy) - 135.1 million VND/tael (sell), down 800,000 VND/tael (buy) and 300,000 VND/tael (sell) compared to the end of last week.

Gold prices increased sharply last week. Photo: HT

Meanwhile, the price of gold rings remained unchanged. Saigon Jewelry Company Limited set it at 127.7 million VND/tael (buy) - 130.2 million VND/tael (sell), unchanged from last weekend.

Phu Nhuan Jewelry Joint Stock Company also continues to list at VND127.7 million/tael (buy) - VND130.7 million/tael (sell).

Phu Quy Group set the price at 127.5 million VND/tael (buy) - 130.5 million VND/tael (sell), unchanged from before.

Last week, the price of SJC gold bars continued to increase, increasing by a total of about 4.8 million VND/tael, reaching a historical high of 135.4 million VND/tael. The price of gold rings also moved similarly and set a record at 130.8 million VND/tael.

On the international market, at 8:30 this morning, gold price was trading at 3,590 USD/ounce, up nearly 3 USD/ounce.

Two Kitco surveys of gold prices this week showed a majority of forecasts for prices to rise. According to the survey of 18 experts, 14 predicted prices would rise, 3 thought prices would fall, and 1 saw prices moving sideways.

An online survey of 219 investors showed that 73% predicted an increase in prices, 15% predicted a decrease, and the rest expected a sideways price.

Source: https://hanoimoi.vn/gia-vang-giam-tu-muc-dinh-lich-su-cham-dut-chuoi-ngay-tang-715411.html