Domestic gold prices fall rapidly

At 8:20 a.m., DOJI Gold and Gemstone Group traded SJC gold bars at 33.2 - 33.28 million VND per tael, down 130,000 VND for buying and 110,000 VND for selling compared to the end of yesterday.

SJC gold price has decreased by several hundred thousand dong per tael in the last 2 days.

At the same time, Phu Nhuan Jewelry Company (PNJ) listed the price of SJC gold bars at 33.2 - 33.45 million VND, also down more than 100,000 VND compared to the closing price on April 13. Thus, in the past 3 days, each tael of gold has decreased by more than 300,000 VND.

This is a development consistent with the price of this precious metal in the world. In yesterday's session, each ounce of gold decreased by nearly 1%, equivalent to 13 USD after the previous session of decline. The strengthening of the dollar and the recovery of stocks are considered the reasons why the price of gold has not stopped falling. In addition, the demand for physical gold in major markets around the world is also weak.

Similarly, the Vietnamese market remains quiet, with prices changing rather slowly compared to the world. In recent times, the price of SJC gold has not fluctuated much due to excess supply. As in yesterday's session, domestic gold prices continued to fall after two previous sessions of increase. Trading was sluggish throughout the morning session. In the afternoon session, international gold prices tended to fall and some investors began to sell.

At this stage, domestic precious metals are moving quite "backward" compared to world prices, with the conversion rate still about 200,000 VND per tael lower than world prices.

In the foreign exchange market, the exchange rate at commercial banks did not change much compared to yesterday. At Vietcombank, one dollar was bought and sold at 22,270 - 22,340 VND. Meanwhile, VietinBank listed the exchange rate around 22,300 - 22,370 VND.

According to VnExpress