Gold ring price continues to fall sharply, is it worth worrying about?

Early this morning (October 1), the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 82-82.9 million VND/tael (buy - sell); down 750,000 VND/tael for buying and down 550,000 VND/tael for selling compared to the beginning of the previous trading session.

At the same time, Bao Tin Minh Chau listed the price of plain round gold rings at 82.54 - 83.44 million VND/tael (buy - sell), unchanged from the beginning of the previous trading session.

However, at 12:30 on the same day, the price of Hung Thinh Vuong 9999 round gold rings was adjusted by DOJI to 81.90-82.90 million VND/tael (buy - sell); decreased by 100,000 VND/tael for buying and kept the same for selling compared to the beginning of the trading session.

Bao Tin Minh Chau also adjusted down sharply to 81.88-82.88 million VND/tael (buy - sell); a decrease of 660,000 VND/tael for buying and 560,000 VND/tael for selling compared to the beginning of the trading session.

The price of gold rings decreased in the same direction as the world gold market. The world gold market started to decrease from the trading session at the end of last week. However, at present, the market has begun to reverse and recover. This morning, the world gold price listed on Kitco was at 2,638.5 USD/ounce, down 14.2 USD/ounce compared to the beginning of the previous trading session.

However, at the time of writing (12:35 p.m. October 1, 2024 - Vietnam time), the world gold price was adjusted up slightly to 2,643.2 USD/ounce, an increase of 4.7 USD/ounce.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

The price difference between gold bars and gold rings has widened.

After many sessions of skyrocketing growth, the price of 9999 round gold rings has at times caught up with the price of gold rings. However, in today's trading session, the market moved in opposite directions, causing the price gap between the two types of gold to widen.

While the price of gold rings has decreased following the world market, the price of SJC gold bars has been adjusted erratically in recent sessions. Today, many units suddenly adjusted the price of gold bars up by 300,000-500,000 VND/tael.

As of 12:35, DOJI Group increased the price of SJC gold bars by VND500,000/tael, to VND82-84 million/tael (buy-sell). The difference between the buying and selling prices of SJC gold at DOJI Group is VND2 million/tael.

Similarly, Bao Tin Minh Chau also listed the price of SJC gold at 82 - 84 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions. The difference between buying and selling gold prices is at 2 million VND/tael.