Plunge sharply as soon as the door opened

(NLDO) - Gold prices today suddenly dropped as soon as trading opened on the international market, causing the prices of gold bars and gold rings to fall sharply.

On the morning of January 27, the world gold price dropped sharply by about 16 USD/ounce to 2,756 USD/ounce right after the opening of the new trading week. The price of gold today is in the context of the precious metal having increased for many consecutive weeks, reaching close to the all-time peak of 2,790 USD/ounce set in October 2024.

Analysts believe that gold prices may decline in the short term when facing profit-taking pressure from investors. However, Kitco's survey results on gold price trends this week show that the precious metal is still forecast to continue to increase when being supported by the weakening of the USD. The USD index on the international market is at its lowest level in more than a month, falling to 107.5 points.

Gold prices this week are waiting for fluctuations from policy meetings of central banks in many countries such as the US and Europe.

Gold prices fell sharply at the opening of the new trading week.

The decline of precious metals in the international market has also caused the domestic gold price to fall sharply. Today, January 27 (ie 28th of Tet), the domestic gold market has temporarily stopped trading at some commercial banks and businesses. The price of SJC gold bars is being traded by some businesses at 87.2 million VND/tael for purchase and 88.2 million VND/tael for sale, a sharp decrease of about 600,000 VND/tael compared to yesterday.

Some gold shops in Ho Chi Minh City quoted the buying price of gold bars at 87 million VND/tael and the selling price at 87.8 million VND/tael. The price of gold bars began to differ between businesses during the Tet holiday.

Similarly, the price of 99.99 gold rings and jewelry gold of all kinds also went down. Currently, the price of gold rings is traded around 87.1 million VND/tael for buying, 88.2 million VND/tael for selling, down about 300,000 VND/tael compared to the previous day. Some gold shops sell gold rings for only 86.5 million VND/tael. The price of gold rings is still mainly "buy where you sell there" depending on the regulations of the business and gold shop.

The demand for buying gold jewelry for decoration or as gifts for relatives and friends increases during the days before Tet. While some big brands such as SJC company are closed for Tet, people turn to shopping at many gold shops, jewelry stores...

Source: https://nld.com.vn/gia-vang-hom-nay-27-1-lao-doc-manh-khi-vua-mo-cua-196250127094439114.htm