On the morning of May 1, the price of SJC gold bars was listed by Mi Hong Company (HCMC) at 117 million VND/tael for buying and 119 million VND/tael for selling, down 2 million VND/tael compared to yesterday. This is a very sharp decline in the price of gold bars.

However, some major gold companies are closed for the holiday, so gold prices have not fully reflected market demand.

Compared to the peak of 124 million VND/tael, the price of SJC gold bars has decreased by about 5 million VND. Those who bought gold at the record peak, if they sell now, will lose at least about 7 million VND/tael.

Similarly, the price of 99.99 gold rings and jewelry gold is listed by some companies at around 112 million VND/tael for buying and 114.5 million VND/tael for selling - down 1.5 million VND/tael compared to yesterday.

The decline in domestic gold prices is in line with the international market as the world gold price has not stopped its sharp decline this morning. The precious metal on the international market lost up to 47 USD/ounce (equivalent to about 1.5 million VND/tael) compared to the previous session, falling deeply to the mark of 3,242 USD/ounce.

The strong increase in the US dollar has put downward pressure on gold prices. The US dollar index on the international market is currently trading at 99.7 points, up 0.31% from the previous session, and has recovered about 1.5% from the bottom nearly 2 weeks ago.

Currently, the world gold price converted according to the listed exchange rate is about 102.3 million VND/tael.

Source: https://nld.com.vn/sang-1-5-gia-vang-mieng-sjc-rot-ca-trieu-dong-luong-196250501090634072.htm