At 1:30 p.m., Saigon Jewelry Company (SJC) listed the buying and selling price of gold bars at 77.8 - 79.8 million VND, down 1 million compared to the end of yesterday. At DOJI Jewelry Group, each tael also dropped to 77.7 - 79.7 million VND. In the past two days, this type of gold has decreased by 1.6 million VND in both directions.

Thus, compared to the peak of 82.5 million VND on March 12, each tael of SJC gold is currently about 2.7-2.8 million lower.

24K gold rings today are bought and sold around 67.9 - 69.2 million VND, down 500,000 VND compared to yesterday, according to the world gold price.

Domestic gold bar prices fell more sharply than world prices, causing the gap between the two markets to narrow significantly.

In the past 24 hours, each ounce of gold in the world has dropped by 30 USD, equivalent to 900,000 VND per tael. At 1:00 p.m. Hanoi time, each ounce of gold was trading at around 2,172 USD, converted at Vietcombank exchange rate, equivalent to 65.4 million VND per tael.

Accordingly, the price of precious metals in the country and the world is currently around 14.6 million VND, down 2.4-3.4 million VND compared to the "peak" on March 12. Meanwhile, gold rings still maintain a difference of 3.8-4.5 million VND per tael compared to the world.

SJC gold bars plummeted after the State Bank proposed to remove the monopoly mechanism.

Analysts say that if this proposal is approved by competent authorities, it will help increase the supply of gold bars in the market, solving the long-standing problem of high price difference between domestic and world prices.

In the foreign exchange market, the exchange rate at banks this morning increased by several dozen dong, reaching the highest level ever. The USD buying and selling price at Vietcombank increased by 30 dong in both directions, to 24,590 - 24,910 dong, up 2% compared to the beginning of the year. Meanwhile, the exchange rate on the black market today cooled down, 50 dong lower than yesterday, to 25,457 - 25,537 dong.

Quynh Trang