Gold ring price drops sharply, SJC gold bars hit record high compared to world price

On the morning of August 12, the price of SJC gold bars was listed by Saigon Jewelry Company (SJC) at 122.7 million VND/tael for buying and 123.9 million VND/tael for selling - stable compared to yesterday.

Meanwhile, the price of 99.99% gold rings and jewelry gold fluctuated unexpectedly, when businesses adjusted it to around 116.5 million VND/tael for buying and 119 million VND/tael for selling - a decrease of 400,000 VND compared to yesterday.

Thus, in just 2 days, the price of gold rings has lost nearly 1 million VND/tael, decreasing faster than the price of SJC gold bars.

In the international market, gold prices fell to 3,350 USD/ounce, down about 20 USD/ounce compared to the previous session.

Gold prices fell as the USD index (DXY) continued to recover, trading at 98.4 points this morning (Vietnam time).

SJC gold bar price is 17 million VND higher than world price

Investors have been selling gold after US President Donald Trump tweeted that gold would not be subject to import tariffs.

Earlier, there was information that the US could impose high tariffs on imported 100-ounce and 1-kilogram gold bars. Concerns about the imposition of tariffs on gold helped the precious metal surge over the weekend.

Currently, the world gold price converted according to the listed exchange rate is about 106.7 million VND/tael, lower than SJC gold bars by up to 17.2 million VND/tael. This is a very high difference between domestic and world gold prices in recent months.

Source: https://nld.com.vn/gia-vang-trong-nuoc-giam-nhanh-nhieu-nguoi-chua-kip-ban-196250812095557943.htm