At 9 am on January 8, Saigon Gold and Jewelry Company (SJC) in HCMC announced the buying price of a tael of gold at VND71.5 million, and the selling price was VND74.5 million, down VND500, 000 a tael for buying and selling compared to last week.
At the same time in Hanoi, Phu Quy Gold, Silver, and Gem Stone Group’s gold price also dropped by VND500,000 to VND71.7 million per tael for purchases and VND200,000 to VND74.5 million per tael for selling.
SJC’s 9999 gold for buying was still priced at VND62 million and VND63.51 million for selling, up VND500,000 a tael for buying and selling compared to the previous week.
DOJI Group bought 9999 gold rings at VND62.2 million per tael and sold them at VND63.25 million per tael, adding VND50,000 for buying and selling.
Gold spot price from the international gold market of Kitco was traded at US$2,043.5 per ounce in the morning on January 8 (local time), down US$2 compared to the last week, equivalent to VND60.3 million per tael. It is lower than the domestic SJC gold price by approximately VND14.2 million per tael and also lower than 9999 gold by VND3.2 million per tael.
Prices were down more than one percent last week after hitting a three-week high earlier. Gold is still in the face of fluctuating prices as investors are uncertain about when the U.S. Federal Reserve (Fed) could cut interest rates.
