Domestic gold price this afternoon (July 18) fluctuated strongly, after decreasing by about 2 million dong/tael in the morning, it continued to decrease by 2-3 million dong/tael. Accordingly, compared to the end of last week, SJC gold price has decreased by 4-5 million dong/tael.
Specifically, at 15:15, Phu Nhuan Jewelry (PNJ) listed the price of SJC gold bars at 62.2-64.1 million dong/tael (buying – selling), down to 5.15 million dong/tael buy and 3.9 million dong/quantity sold.
Similarly at DOJI Group, SJC gold price has decreased by 5.4 million VND/tael for buying and 4 million VND/tael for selling today, currently listed at 62.0-64.0 million VND/tael . Gold, silver and gems in Saigon also adjusted the price of SJC gold to 62.0-64.0 million dong/tael.
Non-SJC gold price fluctuated only slightly. For example, in Phu Nhuan Jewelry, PNJ brand gold price is at 52.05-53.15 million VND/tael, down 50 thousand VND compared to last week.
With such a sharp decrease, the difference between domestic and international gold prices has narrowed significantly.
Currently, the world spot gold price stands at 1,719 USD/ounce. Converted at the VND/USD exchange rate at Vietcombank, international gold is equivalent to 49 million VND/tael (excluding taxes and fees), 15 million VND/tael lower than the domestic gold price.
If converted at the USD exchange rate on the “black market”, the international gold price is equivalent to 51.1 million dong/tael, the difference with the domestic gold price is about 12.8 million dong/tael.
Previously, the domestic gold price was sometimes more expensive than the international gold price up to 20 million VND/tael. There were sessions of world gold price evaporating 30-40 USD/ounce, but domestic gold price remained unchanged.
Compared to the record level of more than 74 million VND/tael achieved at the end of February, the domestic gold price has decreased by 10 million VND/tael.
Source: CafeF
Source: Vietnam Insider