The domestic gold price is now VND17.3 million per tael higher than the global one.
Specifically, Saigon Jewelry Company (SJC) listed the SJC gold price at VND63.3 million per tael for buying and VND65.3 million per tael for selling at 8 a.m., down VND1.4 million in the buying rate and VND1.2 million in the selling rate compared to the closing prices of the previous day. After that, the SJC gold price recovered slightly.
Phu Nhuan Jewelry Company (PNJ) quoted SJC gold price at VND63.5 million per tael for buying and VND65.5 million per tael for selling at 11.30 a.m. in Ho Chi Minh City, up VND200,000 compared to at the beginning of the trading session, but still down VND1.2 million per tael in the buying rate and VND1 million per tael in the selling rate compared to the previous day.
At the same time in Hanoi, PNJ Company bought gold at VND63.5 million per tael and sold gold at VND65.52 million per tael, down VND1 million in the buying rate and VND800,000 in the selling rate compared to the previous day.
The price of 9999-gold rings was also reduced by about VND300,000 per tael compared to the previous day. Specifically, PNJ traded 9999-gold rings at VND51.3 million for buying and VND52.4 million for selling.
In the global gold market, the precious metal has declined for four consecutive trading sessions. Spot gold price fell nearly $4 an ounce compared to the closing session in New York the previous night to $1,693 an ounce on the Kitco floor on the morning of July 21 (Vietnam time).
After conversion, this price is equivalent to VND48.3 million per tael, VND17.3 million per tael lower than the SJC gold price. Meanwhile, other 9999-gold brands are only VND4 million per tael more expensive than the global gold price.