SJC gold slightly decreased, 9999 gold ring price still anchored at historical peak

Updated date: April 10, 2024 10:18:28

After reaching an all-time peak yesterday, domestic SJC gold prices on the morning of April 10 decreased slightly following world gold prices. Meanwhile, ring gold prices remained at their highest level.

At around 9am in Ho Chi Minh City, Mi Hong Gold Shop (Binh Thanh District) listed SJC gold at 82.5 million VND/tael for buying and 84.2 million VND/tael for selling, down 200,000 VND for buying and unchanged for selling compared to the end of the previous afternoon. At the same time in Hanoi , SJC Company also reduced 200,000 VND for both buying and selling, trading at 82.6 million VND/tael for buying and 84.2 million VND/tael for selling.

The price of 9999 gold rings in Ho Chi Minh City this morning also decreased slightly. SJC Company traded 9999 gold rings of 1 chi, 2 chi and 5 chi at 74.2 million VND/tael for buying and 75.7 million VND/tael for selling, down 100,000 VND for buying and unchanged for selling compared to the end of the previous afternoon. PNJ Company also decreased 200,000 VND for both buying and selling, down 74.2 million VND/tael for buying and 75.5 million VND/tael for selling.

Meanwhile, in Hanoi, Bao Tin Minh Chau Company still maintained the price at yesterday's peak, trading at 75.88 million VND/tael for buying and 77.48 million VND/tael for selling. This is the highest price of gold rings of all time.

In the world gold market, the spot gold price on Kitco floor on the morning of April 10 (Vietnam time) decreased to 2,345.78 USD/ounce, down about 8 USD compared to the previous session. This price after conversion is equivalent to 71 million VND/tael. Currently, the world gold price is about 13.2 million VND/tael lower than SJC gold and about 4.7 - 6.4 million VND/tael lower than the price of 9999 gold rings.

World gold prices fell slightly after reaching a peak the day before. Investors now seem to no longer care about when the US Federal Reserve (FED) will cut interest rates because this precious metal is being boosted by geopolitical tensions in the Middle East. Along with that, the continuous buying moves of many central banks around the world as well as the demand for gold from Chinese investors have contributed to attracting many global investors to participate in the gold market, making the gold price show no signs of stopping to find new historical milestones.

According to NHUNG NGUYEN (SGGP)

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