Gold ends week down

After many volatile sessions, at the end of the week, each tael of gold decreased by 200,000 VND and trading was still not really active.

Opening at 8:15 a.m., the price of SJC gold bars at DOJI Gold and Gemstone Group was 32.8-32.88 million VND. The buying price increased by 30,000 VND while the selling price was 40,000 VND higher per tael. Meanwhile, at Phu Nhuan Jewelry Company (PNJ), each tael of gold was listed at 32.58-32.84 million VND.

Gold prices closed the week down sharply.

Thus, the price of SJC gold closed the week down more than 200,000 VND. During the week, the gold market gradually slid and fell below the 33 million VND mark, setting the lowest level since January 4.

In the first session of the week, domestic gold prices did not have any trade and companionship with international prices when precious metals in the world had fluctuations but SJC gold did not change much, only at a small level.

In the first sessions of the year, the gold market has experienced rapid increases and decreases. According to DOJI experts, this promises a volatile year as well as optimism among investors towards gold. However, at this time, investors are very cautious and thoughtful, they stay out of the market to observe and listen to important information before participating in transactions.

After falling to its lowest level since the beginning of the year, the price of SJC gold recovered slightly in the next session but the increase was not sustainable, around 32.85 million VND. The price of gold bars moved up due to the benefit from the world's increase, however, the gold market still lacked enough momentum to confirm its recovery. Buying demand decreased significantly when supply dominated.

Then, at the end of the week, prices continued to fall sharply due to the global downturn. However, the decline was still slower than international prices, with the difference between domestic and international gold prices at VND3.5 million. According to DOJI's analysis, the trading range of gold prices next week is around VND32.8-33.1 million.

In the foreign exchange market, the central exchange rate on January 16 was announced by the State Bank at 21,917 VND. Meanwhile, banks still listed the buying and selling rates of US dollars at around 22,390-22,460 VND.

According to VNE