Gold prices sharply decline after hitting historic record in one day

After reaching the historic record of VND80.22 million per tael this morning, gold prices have slowed down significantly in the evening.

SJC gold price is at VND77.2 million per tael on the evening of December 26. (Photo: SGGP)

At 4 pm on December 26, Saigon Gold and Jewelry Company (SJC) announced the buying price of a tael of gold at VND77.2 million, and the selling price was VND79 million, down VND1.8 million a tael in HCMC.

At the same time in Hanoi, Phu Nhuan Jewelry Joint Stock Company (PNJ)’s gold price dropped by VND1.8 million to VND77.3 million per tael for purchases and VND1.3 million to VND79 million per tael for selling.

PNJ’s 9999 gold ring for buying was still priced at VND62.55 million and VND63.65 million for selling.

Bao Tin Minh Chau Company bought 9999 gold rings at VND63.33 million per tael and sold them at VND64.38 million per tael.

Gold spot price from the international gold market of Kitco was traded at US$2,061per ounce, slightly down US$2 compared to the price this afternoon, equivalent to VND60.6 million per tael at Vietcombank and about VND18.4 million- VND19.6 million per tael lower than SJC gold price.

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