The price of SJC gold bars and gold rings fell sharply below the 91 million VND/tael mark.

(NLDO) – The price of SJC gold bars and gold rings both decreased, the buying price fell deeply below the 89 million VND/tael mark.

On the morning of February 28, SJC, PNJ, and DOJI companies simultaneously listed the price of SJC gold bars at 88.9 million VND/tael for buying and 90.8 million VND/tael for selling, down 300,000 VND/tael compared to the end of yesterday.

The difference between buying and selling prices has narrowed to 2 million VND/tael. In fact, the difference between buying and selling at Mi Hong is only 600,000 VND/tael, because this gold shop raised the buying price to 90.3 million VND/tael and the selling price to 90.9 million VND/tael.

Compared to the peak of 93.1 million VND/tael set 2 weeks ago, the price of gold bars has now "evaporated" about 2.2 million VND/tael.

Similarly, the price of 99.99 gold rings and jewelry gold also decreased by VND300,000/tael, down to VND88.9 million/tael for buying and VND90.8 million/tael for selling.

Domestic gold prices fell sharply following the downward trend of world prices.

In the international market, the precious metal is trading at 2,875 USD/ounce, down 15 USD/ounce compared to yesterday. Last night, there was a time when the gold price plummeted to 2,867 USD/ounce, 100 USD/ounce lower than the previous record peak.

Gold price today decreased sharply for both SJC gold bars and gold rings.

According to analysts, gold prices are under pressure to fall as investors take profits after a period of rapid growth. Most recently, the US President's contradictory speech related to tariffs applied to trading partners such as Mexico, Canada and China.

Economic analysts warn that escalating trade tensions could lead to slower economic growth and possibly higher inflation in all three North American countries.

Persistently high inflation could force the US Federal Reserve (FED) to keep interest rates at current levels, instead of implementing previously predicted rate cuts.

The strong increase in the US dollar index has put downward pressure on gold prices. The US dollar index is currently trading at 107.2 points, up 0.74% from the previous session.

Currently, the world gold price converted according to the listed exchange rate is about 89.2 million VND/tael.

Source: https://nld.com.vn/gia-vang-mieng-sjc-vang-nhan-rot-manh-khoi-moc-91-trieu-dong-luong-196250228093129631.htm