World gold prices fall dramatically

After 9 consecutive weeks of increase, tonight, February 27, the world gold price plummeted, at one point only 2,870 USD/ounce.

World gold price falls vertically - Screenshot

Thus, the world gold price has evaporated 40 USD/ounce, equivalent to 1.24 million VND/tael. Compared to the all-time peak of 2,956 USD/ounce, the world gold price has decreased 86 USD/ounce, equivalent to 2.7 million VND/tael.

At the current price, converted according to the listed exchange rate at the bank, the world gold price is equivalent to 89.06 million VND/tael.

Expert Tran Duy Phuong commented that the world gold price has fallen into a downward trend after 9 consecutive weeks of increase. This trend may last 5-6 weeks with a possible decrease of up to 2,727 USD/ounce, equivalent to a decrease of 7.7% compared to the peak.

Meanwhile, according to analysis, world gold prices are still affected by profit-taking pressure and are weakening due to signs of decreasing demand for gold in China due to high prices.

Investors also await the US inflation report due this week and President Donald Trump's next steps on tariffs.

The domestic gold price today only decreased by 100,000 VND/tael, to 91.2 million VND/tael. The buying price decreased to 88.9 million VND/tael. The price of 9999 gold rings also decreased by 100,000 VND/tael, to 91 million VND/tael (selling), buying at 88.9 million VND/tael.

At PNJ Company, the selling price of 9999 gold rings also decreased by 100,000 VND/tael, to 91.2 million VND/tael, while the buying price was at 90.3 million VND/tael. Bao Tin Minh Chau Company reduced the price of 9999 gold rings to 91.7 million VND/tael, while the buying price also increased to 90.15 million VND/tael.

At Mi Hong gold shop, the selling price of SJC gold bars is 91.4 million VND/tael, the buying price is 90.5 million VND/tael. The difference between buying and selling prices of gold has narrowed significantly. At Mi Hong gold shop, the difference is only 1 million VND/tael.

Meanwhile, at some other large gold companies, the difference is from 1.5-2.3 million VND/tael while in previous days the difference was up to 4 million VND/tael.

Compared to the converted world gold price, the domestic gold price is about 2.14 million VND/tael higher.

Please follow the domestic gold price movements here.

Source: https://tuoitre.vn/gia-vang-the-gioi-roi-het-hon-20250227224302729.htm