After a month, the domestic gold market recorded a strong correction when SJC gold bars and gold rings simultaneously decreased sharply compared to April 25. Gold buyers in the peak price period are currently suffering large losses due to the market's decline and the buying-selling spread remaining at a high level.
For SJC gold bars, the gold price at DOJI on May 25 was listed at 159-162 million VND/tael (buying - selling), down 7.3 million VND/tael on the buying side and down 6.8 million VND/tael on the selling side compared to April 25.
If people bought gold at DOJI a month ago and sold it today, they would lose about 9.8 million VND/tael (due to the difference between buying and selling due to listed brands).
At Bao Tin Minh Chau, the current SJC gold bar price is at 159-162 million VND/tael, down 7.2 million VND/tael on the buying side and down 6.8 million VND/tael on the selling side. Gold buyers a month ago are currently losing about 9.8 million VND/tael.
Phu Quy listed SJC gold bars at 158.7-162 million VND/tael, down 7.6 million VND/tael on the buying side and down 6.8 million VND/tael on the selling side. The loss of gold buyers after a month reached about 10.1 million VND/tael.
In the 9999 gold ring segment, DOJI is currently listed at 159-162 million VND/tael, down 6.8 million VND/tael in both buying and selling directions. Gold ring buyers here lose about 9.8 million VND/tael after a month.
Bao Tin Minh Chau also recorded a similar decrease when the current gold ring price is at 159-162 million VND/tael, down 6.8 million VND/tael in both directions. Investor losses are about 9.8 million VND/tael.
In Phu Quy, gold rings were traded at 158.7-161.7 million VND/tael, down 7.1 million VND/tael on the buying side and down 7.1 million VND/tael on the selling side. Gold buyers a month ago are currently losing about 10.1 million VND/tael.
Domestic gold prices decreased due to the impact of the world market. World gold fell from 4,708.8 USD/ounce on April 25 to about 4,566 USD/ounce on May 25.
In the context of strong gold price fluctuations and the buying - selling gap being pushed up from 3-3.3 million VND/tael, short-term gold buyers face the risk of large losses if the market reverses direction.
Investors need to be cautious, avoiding the psychology of fearing missing opportunities to chase hot uptrends of the gold market. If world gold prices continue to weaken in the near future, domestic gold prices may face deeper adjustment pressure.
