Gold price in Vinh city drops sharply, forecast to be difficult to increase strongly again
(Baonghean.vn) - On the morning of the first day of the week (August 24), due to the influence of domestic and international gold prices, gold prices in Vinh City were on a sharp decline. However, people were still cautious and did not invest on this occasion.
According to a survey by PV, on the morning of August 24, the price of gold in Vinh City decreased by about 2.3 million VND/tael compared to the average price of last week and is currently at the lowest level since the time gold hit bottom on August 12.
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| Gold price in Vinh City turned down after 1 week at a high level. Photo: QA |
Specifically, for SJC gold, the current buying price is 54 million VND/tael and the selling price is 55.5 - 56 million VND/tael. Meanwhile, the price of SJC gold last week was fixed at 56 million VND/tael for buying and 58 million VND/tael for selling, without much fluctuation.
For 9999 gold, this morning the price was 5.1 - 5.2 million VND/tael for buying and 5.3 - 5.35 million VND/tael for selling. This price has decreased by about 250,000 - 300,000 VND/tael compared to the previous days. Other types of jewelry also decreased such as: 24K gold jewelry decreased by 200,000 VND/tael, 18K gold decreased by 150,000 VND/tael.
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| People trade gold in Vinh City. Photo: QA |
Mr. Mien, owner of a gold shop in Vinh City, said: "This is a pretty strong price drop after more than a week of being at a high level. However, this price is considered to have returned to a stable level after a period of dizzying peaks and bottoms in the past time."
According to records, the number of people buying, selling and trading gold in Vinh City has shown signs of increasing compared to the gloomy situation last week. Although the price has decreased, the number of people buying for investment is not much, most of the buyers mainly serve weddings and engagements when they know the news of gold price decrease.
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| Experts say gold prices are unlikely to increase sharply again. Photo: QA |
Meanwhile, the world gold price (calculated according to Vietnam time) on the morning of August 24 was traded at 1,931.2 USD/ounce, down 11.2 USD/ounce compared to the previous trading session. Converted to USD price (23,270 VND/USD), the world gold price is equivalent to 54.14 million VND/tael.
Experts around the world expressed a less optimistic view. Specifically, 15 Wall Street experts participated in the gold price poll. Sentiment was evenly divided between bullish and bearish, with each side receiving 7 votes, equivalent to 47%. Some economic experts were pessimistic about the gold price increase due to signs of strengthening dollar.
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