On the evening of February 4, the price of SJC gold bars suddenly plummeted.

(NLDO) – Each tael of SJC gold bar suddenly dropped by half a million VND, to nearly 90 million VND/tael as gold selling pressure increased.

At the end of February 4, SJC, PNJ, and Bao Tin Minh Chau companies simultaneously lowered the price of SJC gold bars to 87.6 million VND/tael, selling at 90.1 million VND/tael, down 500,000 VND/tael compared to the morning.

Some businesses such as Mi Hong Company sell gold bars at a lower price, around 89 million VND/tael.

This development is quite surprising after the price of SJC gold bars reached its highest peak in many months. In the past 2 days, the price of gold bars increased by a total of nearly 2 million VND before having a drop at the end of today.

The difference between buying and selling prices is maintained at a very high level, up to 2.5 million VND/tael in the context of strong fluctuations in precious metal prices.

SJC gold bar price suddenly reversed at the end of today

Similarly, the price of 99.99 gold rings and jewelry gold of all kinds also plummeted. SJC Company listed the buying price at 87.6 million VND/tael, selling price at 89.6 million VND/tael, down 500,000 VND compared to the morning.

The price of gold rings also varies between brands and businesses. Plain round rings at Bao Tin Minh Chau are sold at a historical peak of 90.55 million VND/tael, higher than the price of SJC gold bars. PNJ Company sells plain gold rings for 89.9 million VND/tael.

According to analysts, the selling pressure to take profits when the price of SJC gold bars reached a multi-month high and 99.99 gold rings reached a historical peak caused the gold price to go down.

Ms. Bich Van (living in Binh Thanh District, Ho Chi Minh City) said that this morning she sold 2 taels of SJC gold bars bought at the price of 84 million VND/tael when she saw the price surpass 90 million VND. Observing at the SJC Company headquarters this morning, a reporter from the Nguoi Lao Dong Newspaper noted that there were quite a few people selling gold bars when the price reached its peak.

In the international market, gold prices continued to fluctuate strongly at the end of the day. After continuously climbing to the peak, the precious metal began to decline. Tonight, Vietnam time, the world gold price was at 2,810 USD/ounce, down about 10 USD/ounce compared to the previous session. Gold prices cooled down after many days of rising sharply, while the USD also went down in the international market.

Currently, the world gold price converted according to the listed exchange rate is about 85.9 million VND/tael.

Source: https://nld.com.vn/toi-4-2-gia-vang-mieng-sjc-bat-ngo-lao-doc-196250204181924361.htm