A month ago (February 23), SJC gold bar prices at DOJI were listed at 181.6 - 184.6 million VND/tael (buying - selling).
As of today, March 23 (recorded at 15:55), this business lowered the price to 160.8 - 163.8 million VND/tael. Thus, after 1 month, the buying price of SJC gold bars at DOJI decreased by 20.8 million VND/tael, and the selling price also decreased by 20.8 million VND/tael. People who bought SJC gold bars here 1 month ago are currently losing 23.8 million VND/tael (because of the difference between buying and selling regulated by the business).
At Bao Tin Minh Chau, 1 month ago, the price of SJC gold bars was also at 181.6 - 184.6 million VND/tael. Today, the price is still 160.8 - 163.8 million VND/tael. Compared to 1 month ago, the buying price decreased by 20.8 million VND/tael, and the selling price decreased by 20.8 million VND/tael. The loss of SJC gold bar buyers after 1 month is 23.8 million VND/tael.
Similarly, in Phu Quy, on February 23, SJC gold bars were traded at 181.6 - 184.6 million VND/tael, while today it decreased to 160.8 - 163.8 million VND/tael. Each tael of SJC gold bars therefore decreased by 20.8 million VND in both buying and selling directions. If buying from 1 month ago, investors are currently losing 23.8 million VND/tael.
For 9999 DOJI gold rings, on February 23, the enterprise listed 181.2 - 184.2 million VND/tael. By March 23, the price decreased to 160.3 - 163.7 million VND/tael. Thus, after 1 month, the buying price decreased by 20.9 million VND/tael, and the selling price decreased by 20.5 million VND/tael. DOJI gold ring buyers are currently losing 23.9 million VND/tael.
At Bao Tin Minh Chau, 9999 gold rings 1 month ago were traded at 181.6 - 184.6 million VND/tael. Today, the price has retreated to 160 - 163 million VND/tael.
Compared to February 23, the buying price decreased by 21.6 million VND/tael, and the selling price also decreased by 21.6 million VND/tael. This is the strongest decrease in the survey group, and also caused buyers to lose up to 24.6 million VND/tael after 1 month.
As for Phu Quy, on the 23rd, 9999 gold rings were priced at 181.5 - 184.5 million VND/tael, and today it is 160 - 163 million VND/tael. Thus, the buying price decreased by 21.5 million VND/tael, and the selling price decreased by 21.5 million VND/tael. People buying Phu Quy gold rings after 1 month lost 24.5 million VND/tael.
Not only domestic gold, world gold prices also fell sharply. On February 23, world gold prices were at 5,174.7 USD/ounce, but by 3:55 PM on March 23, they were only 4,233.6 USD/ounce, a decrease of 941.1 USD/ounce after 1 month. The plunge of world gold prices is creating great pressure on the domestic market.
Currently, the buying - selling difference is commonly at 3 million VND/tael, especially DOJI gold rings are 3.4 million VND/tael. This high difference makes the risk for buyers even greater, because as soon as gold prices go down, investors have suffered double losses due to price drops and profit contraction due to the buy-sell gap.
In the context that world gold prices are still decreasing, the domestic gold market may face the risk of deeper correction. People need to be cautious, avoid the psychology of fearing missing opportunities (FOMO) to chase, because the risk of losses is very high when prices fluctuate strongly and the buying - selling difference is still high.
See more news related to gold prices HERE...
