SJC gold bar price on the morning of July 22 remained stable at 80 million VND/tael

Specifically, at 9:00 a.m., DOJI Gold and Gemstone Group listed the price of SJC gold at 78 - 80 million VND/tael (buy - sell), down 500,000 VND/tael for buying and kept the listed price for selling unchanged compared to yesterday's closing price.

At Saigon Jewelry Company (SJC), SJC gold price is also listed at 78 - 80 million VND/tael (buy - sell), keeping the listed price for both buying and selling unchanged compared to yesterday's closing price.

For gold rings, DOJI Gold and Gemstone Group listed the price of gold rings at 75.95 - 77.20 million VND/tael (buy - sell), an increase of 50,000 VND/tael in both buying and selling compared to yesterday's closing price.

From July 18 to 21, almost all gold and gemstone trading enterprises such as Saigon Jewelry Company Limited, DOJI Gold and Gemstone Group, Bao Tin Minh Chau Company Limited or Phu Nhuan Jewelry Joint Stock Company (PNJ) all listed the same selling price for SJC gold bars at 80 million VND/tael.

The buying price of SJC gold of most of the above enterprises is 78.5 million VND/tael. Only Saigon Jewelry Company Limited (SJC) listed a lower buying price of 78 million VND/tael.

According to economist Nguyen Tri Hieu, this reaction shows that the domestic gold market is being oriented in the right direction. It can be seen that the recent adjustment of gold prices by commercial banks has demonstrated the initiative and good control ability of management units, to ensure that the management of the gold market can achieve the highest efficiency without causing negative impacts on the economy and consumers.

However, there are also opinions that this could affect investor and consumer psychology, reducing the liquidity of the gold market.

Predicting the situation and price movements of the domestic gold market, Expert Truong Vy Tuan, representative of Giavang.net, said that the gold bar market is expected to remain stable around the 80 million VND/tael mark after breaking the 1.5-month freeze around the price of 76.98 million VND/tael.

In the world market, gold futures prices fell more than 2% in the trading session on July 19, ending the first weekly decline in a month, after setting record highs earlier in the week.

Gold for August 2024 delivery fell $57.3, or 2.3%, to close at $2,399.1 an ounce on the Comex floor.

The precious metal posted its biggest one-day percentage drop since June 7 on Friday and was down 0.9% for the week, after three straight weeks of gains.

Gold prices hit a record high of $2,488.4 an ounce on July 17, after closing at an all-time high of $2,467.8 an ounce on July 16.