SJC gold bar price drops sharply by 4 million VND per tael

Each tael of gold bars dropped sharply by 4 million VND to 117 million VND, right after the Deputy Prime Minister's direction to stabilize the market.

On the morning of April 19, Saigon Jewelry Company (SJC) continuously adjusted the price list for buying and selling gold bars. At 10:15, SJC listed gold price The price of the piece is 113 - 117 million VND per tael, down 4 million VND for buying and 3 million VND for selling compared to yesterday. The difference between buying and selling prices widened to 4 million VND per tael.

SJC also reduced the price of each tael of plain rings by 2.5 million VND for buying and 1.5 million VND for selling, down to 111.5 - 115.5 million VND. Phu Nhuan Jewelry Company (PNJ) reduced the price of plain rings to 112 - 116 million VND per tael.

Domestic gold prices fell sharply immediately after the Deputy Prime Minister's directive, requesting the State Bank to have solutions to stabilize the gold market. In recent days, domestic gold bar prices have jumped, leading to the gap with the world market pushing up to 15 million VND per tael.

Since June last year, the State Bank has continued to implement the policy of "fixing" the price of gold bars by selling intervention to 4 state-owned banks and SJC. However, the actual supply on the market is not enough to meet the purchasing power of the people, especially at times when world prices are high.

On the international market, the spot gold price closed the weekend session at 3,327 USD per ounce, converted at Vietcombank's selling rate equivalent to 104.8 million VND per tael. Currently, the difference between the two markets has decreased from 15 million VND to 10 million VND per tael.

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