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Many gold shops in Ho Chi Minh City simultaneously cut VND 50,000-250,000 per tael this morning, causing buyers to suffer losses of VND 750,000-800,000 yesterday if they were sold immediately.
Jewelry Group DOJI listed this morning the purchase price in Ho Chi Minh City is 55.65 million and sold 56.3 million, VND 50,000 per tael more than yesterday. This is the only business that adjusted the price after Than Tai day, but it has the largest buy and sell difference in the market at 650,000 VND per tael.
At the same time, Saigon Jewelry Company (SJC) reduced VND 50,000 per purchase to VND 55.55 million. The sale price fell sharply compared to last afternoon when it lost 250,000 dong to 56.05 million dong.
My Hong Gold Shop also drastically adjusted the sale price, to less than 56 million dong per tael. Currently, each ounce of international gold is priced at $ 1,785. Converted at the Vietcombank exchange rate, each quantity of world gold is approximately 5 million dong lower than the national price.
Yesterday (February 21), most gold bullion trading systems posted a selling price of 56.3-56.4 million dong per tael, not including money processing. Therefore, customers who bought on Than Tai day until this morning had lost around 750,000-850,000 VND per tael.
DOJI’s gold coin serves on Than Tai day. Photo: DOJI.
According to a Kitco survey, the precious metals market is turning negative when prices are in a sharp decline due to pressure when bond yields rise. About 71% of Wall Street experts believe that gold will continue to fall this week, while only 17% expect optimistic developments and 11% are neutral.
Thien Ngan
