Around 9:30 a.m., SJC quoted its gold prices at VND77.5 million per tael for buying and VND79.5 million per tael for selling, a decrease of VND500,000 for both buying and selling compared to the previous day. PNJ and Doji Group also reduced their buying prices by VND1 million and their selling prices by VND500,000, with trading prices at VND77.5 million per tael for buying and VND79.5 million per tael for selling.
The selling price of SJC gold at the four state-owned commercial banks (BIDV, Agribank, VietinBank, and Vietcombank) also fell to VND79.5 million per tael this morning, down VND500,000 per tael compared to the previous day.
This morning, the price of 9999 gold rings experienced a slight decrease. SJC listed 9999 gold rings at VND75.75 million per tael for buying and VND77.15 million per tael for selling, down by VND50,000 for both buying and selling compared to the previous day. Doji Group also reduced its prices by VND50,000 for both buying and selling, with 9999 gold rings trading at VND75.9 million per tael for buying and VND77.15 million per tael for selling.
On the global gold market, the price closed at US$2,396.6 an ounce in New York on the night of July 22, down by over $4 from the previous session. As of the morning of July 23 (Vietnam time), the spot gold price on Kitco was $2,401.49 an ounce. After conversion, this price is equivalent to nearly VND73.7 million per tael, VND5.8 million lower than SJC gold, and approximately VND3.45 million lower than 9999 gold rings.
At one point, the global gold price dropped below $2,400 an ounce following the announcement that President Joe Biden would not run for re-election in November. This news led to a strong increase in the US dollar, negatively impacting gold prices. Additionally, investors are cautious ahead of several important US economic reports due this week. Forex experts previously noted that if gold prices can maintain the key $2,400 an ounce level, the upward trend would continue. However, if prices fall below this level, gold could experience a deeper decline.
