Gold ring price drops shockingly, loss of up to 8.25 million/tael after one week

Plain gold ring price drops sharply

9999 round gold rings have just experienced a gloomy trading session when they decreased by more than 6 million VND/tael. Early this morning (November 7), the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 84.1-85.5 million VND/tael (buy - sell). Compared to the beginning of the previous session (November 6), DOJI adjusted the gold ring price down by 3.4 million VND/tael for buying and down by 3 million VND/tael for selling.

At the same time, Bao Tin Minh Chau listed the price of gold rings at 84.43-86.23 million VND/tael (buy - sell). Compared to the beginning of the trading session on November 6, Bao Tin Minh Chau reduced the price of gold rings by 3.05 million VND/tael for buying and 2.25 million VND/tael for selling.

After many adjustments, at the end of the trading session on November 7, the price of Hung Thinh Vuong 9999 round gold ring at DOJI was listed at 81-83.8 million VND/tael (buy - sell), down 6.3 million VND/tael for buying and down 4.6 million VND/tael for selling after only one trading session.

Bao Tin Minh Chau listed the price of gold rings at 81.28-84.08 million VND/tael (buy - sell); down 6.05 million VND/tael for buying and down 4.35 million VND/tael for selling after just one trading session.

Profit or loss after one week of purchase

In the first trading session of the week (November 1), the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 88.25-89.25 million VND/tael (buy - sell). At the same time, Bao Tin Minh Chau listed the price of gold rings at 88.23-89.23 million VND/tael (buy - sell).

Thus, after a week, DOJI adjusted the price of gold rings down by 7.25 million VND/tael for buying and 5.45 million VND/tael for selling. Meanwhile, Bao Tin Minh Chau adjusted the price down by 6.95 million VND/tael for buying and 5.15 million VND/tael for selling.

Subtracting the difference between buying and selling prices listed by trading units, the loss when buying a tael of gold at DOJI and Bao Tin Minh Chau after one week is VND 8.25 million/tael and VND 7.95 million/tael, respectively.

Gold rings on November 7 fell sharply following the free fall of the world market. However, last night and early this morning, the world gold price gradually recovered, and the gold ring price in the November 8 session will likely be adjusted up by domestic businesses. Domestic investors can refer to the domestic gold price movement before deciding to take profit or spend money.