Vietnam gold bar prices continue to plunge, dropping by up to 4 million VND in just one week. Coupled with the buy-sell price spread, buyers who bought their gold bars last weekend are temporarily down by about 7 million VND per tael.
In this morning’s trading session (11/9), Sai Gon Jewellery Company Limited (SJC) listed gold bar prices at 142 – 145 million VND per tael (buy – sell), down sharply by 1.6 million VND compared with the previous session’s closing price.
On the daily price chart, gold bars have recorded continuous downward moves over the past week. From 149 million VND per tael at the end of last weekend, the price has kept falling sharply and today’s session has seen it hit this week’s bottom area.
Over the most recent week, the gold bar price has fallen by as much as 4 million VND per tael. This decline, together with the current buy-sell spread of roughly 3 million VND per tael, means those who bought gold one week ago are facing a loss of 7 million VND per tael.
The deep decline has also been seen in ring gold this morning. SJC is currently quoting its 9999 ring gold, 1–5 taels, at 141.5 – 144.5 million VND per tael, down 1.6 million VND per tael compared with the previous session.
In the world market, spot gold, despite edging up by 15 USD (+0.4%) versus the opening price of the most recent session, is trading at around 4,334 USD/ounce, but compared with the same time yesterday morning, the current price is still lower by nearly 70 USD.
The precious metal price has just plunged after U.S. inflation data came in stronger than expected, along with higher oil prices, which has increased the likelihood that the U.S. Federal Reserve (Fed) will raise interest rates at its meeting next week.
In this morning’s trading session (11/9), Sai Gon Jewellery Company Limited (SJC) listed gold bar prices at 142 – 145 million VND per tael (buy – sell), down sharply by 1.6 million VND compared with the previous session’s closing price.
On the daily price chart, gold bars have recorded continuous downward moves over the past week. From 149 million VND per tael at the end of last weekend, the price has kept falling sharply and today’s session has seen it hit this week’s bottom area.
Over the most recent week, the gold bar price has fallen by as much as 4 million VND per tael. This decline, together with the current buy-sell spread of roughly 3 million VND per tael, means those who bought gold one week ago are facing a loss of 7 million VND per tael.
The deep decline has also been seen in ring gold this morning. SJC is currently quoting its 9999 ring gold, 1–5 taels, at 141.5 – 144.5 million VND per tael, down 1.6 million VND per tael compared with the previous session.
In the world market, spot gold, despite edging up by 15 USD (+0.4%) versus the opening price of the most recent session, is trading at around 4,334 USD/ounce, but compared with the same time yesterday morning, the current price is still lower by nearly 70 USD.
The precious metal price has just plunged after U.S. inflation data came in stronger than expected, along with higher oil prices, which has increased the likelihood that the U.S. Federal Reserve (Fed) will raise interest rates at its meeting next week.
