At the end of the recent trading session, the domestic gold market reversed and lowered prices. Today (May 20), plain round gold rings and domestic gold bars decreased sharply. Compared to the same time last month, gold prices have decreased by about 8.8 million VND/tael in the buying - selling direction.
At gold and silver business stores on Tran Nhan Tong street (Hanoi), the number of people coming to buy decreased compared to many days before. According to information released from the store, the quantity of plain round gold rings bought and sold today is unlimited. The store opens for sale plain round gold rings according to the actual quantity and returns gold directly.
In the afternoon transaction this morning at Bao Tin Minh Chau store this morning, Ms. Nguyen Hoang Phuong (Hoang Mai ward, Hanoi) shared: "Today it's raining, so people are not buying and selling as crowded as in previous days. At the beginning of the opening hours, the number of customers is moderate, I have to wait but it will probably not be long, only after about 6-7 people. The price has dropped to about 16 million VND/chi, so I took the opportunity to buy 2 chi of plain round gold rings".
Meanwhile, at Phu Quy store, most customers come to buy silver, the plain round gold ring transaction area is deserted. Mr. Do Khanh Nhat (My Dinh ward, Hanoi) - silver bar transaction - said: "The buying - selling area of silver products here is always more bustling than plain round gold rings. I bought 5 taels of silver but promised to return late, and will not receive the goods until August.
According to Mr. Nhat, holding silver is not long-term. "At times when prices are high, I will sell it to take profits, when prices are low, I will buy it. However, world prices are increasing quite rapidly, but domestic prices react more slowly, so I need to closely monitor to avoid losses" - Mr. Nhat shared.
Continuing to record at some stores that used to queue in long lines when gold prices increased, such as Bao Tin Manh Hai on Hoang Cau and Tran Duy Hung streets today, there are also few customers, no longer long queues waiting.
Gold price update
As of 9:36 am on May 20, SJC gold bar prices were listed at 159-162 million VND/tael (buying - selling), down 2 million VND/tael on the buying side and 1.5 million VND/tael on the selling side, respectively.
Bao Tin Minh Chau listed SJC gold bar prices at 159.5-162.5 million VND/tael (buying - selling), simultaneously decreasing by 1 million VND/tael in both directions.
At the same time as the survey, the price of SJC plain round gold rings tended to decrease, listed at 159.3-162.3 million VND/tael (buying - selling).
Bao Tin Minh Chau listed gold ring prices equal to gold bar prices, currently at the threshold of 159.5-162.5 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions.
On the world market, as of 9:43 AM on May 20 (Vietnam time), world gold prices had a downward adjustment, listed around the threshold of 4, 465.6 USD/ounce, down 15.5 USD.
Silver price update
As of 9:50 am on May 20, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at the threshold of 2.748 - 2.848 million VND/tael (buying - selling); down 109,000 VND/tael on the buying side and down 113,000 VND/tael on the selling side compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.769 - 2.855 million VND/tael (buying - selling); down 103,000 VND/tael on the buying side and down 106,000 VND/tael on the selling side compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 73.839 - 76.133 million VND/kg (buying - selling); down about 2.4 million VND/kg on the buying side and down 2.48 million VND/kg on the selling side compared to yesterday morning.
On the world market, as of 9:50 am on May 20 (Vietnam time), the world silver price was listed at 73.37 USD/ounce.
