Domestic gold prices remain stable despite global price decline

By Nhung Nguyen - Translated by Kim Khanh| 05/08/2024 16:46

Domestic gold prices have remained stable despite the continued decline of global gold prices.

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Saigon Gold and Jewelry Company (SJC) has resumed buying SJC-branded gold bars whose series number starts with only one letter made before 1996 and deformed gold bullion starting on August 5. The company will buy SJC-branded gold bars with one letter at the same price as the ones whose series number starts with two letters.

At 4:30 p.m. on August 5, Saigon Gold and Jewelry Company (SJC) and DOJI Group in HCMC announced the buying price of a tael of gold at VND78.3 million, and the selling price was VND79.8 million.

Meanwhile, Phu Nhuan Jewelry Joint Stock Company (PNJ)’s gold for buying was priced at VND76.25 million and VND77.55 million for selling.

DOJI Group bought 9999 gold rings at VND76.40 million per tael and sold them at VND77.55 million per tael, while SJC’s 9999 gold ring for buying was VND76.25 million and VND77.65 million for selling.

On the morning of the same day, the selling price of SJC gold from State-owned commercial banks, commonly referred to as the Big 4 including Vietcombank, VietinBank, Agribank, BIDV, and Saigon Gold and Jewelry Company (SJC) was VND79.8 million per tael.

Gold spot price from the international gold market of Kitco was traded at US$2,343.3 per ounce in the morning on August 5 (local time), down US$10 compared to the previous transaction, equivalent to VND74.4 million per tael. It is VND5.4 million per tael lower than the domestic SJC gold price and VND3.55 million per tael lower than 9999 gold ring.

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Domestic gold prices remain stable despite global price decline
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