SJC gold price quickly "cools down", falling below the 77 million VND per tael mark

After skyrocketing to a historic high of 77.3 million VND, by the end of today (December 22), the price of SJC gold has turned around and dropped sharply.

At 5:30 p.m., Saigon Jewelry Company listed buying and selling prices from 75.80 to 76.80 million VND/tael (down 500,000 VND/tael compared to early this afternoon.

Two other businesses also reduced the buying and selling prices by about 300,000 VND per tael, of which VietnamGold Company announced the price of SJC gold from 75.60-76.90 million VND/tael; Doji Hanoi Company listed from 75.70-76.95 million VND/tael (buy/sell).

Looking back at today’s session, the price of SJC gold has had many unusual fluctuations. In the morning session alone, many businesses increased by nearly 1.6 million VND per tael, although the difference between buying and selling prices remained at 1 million VND per tael.

However, compared to the fluctuations in world gold prices (only adjusted by more than 15 USD/ounce in the morning session, equivalent to 360,000 VND/tael), SJC gold has adjusted more than 4 times.

By late afternoon this morning, when the world gold price added 7 USD/ounce, reaching a new threshold of 2,055 USD/ounce, the SJC brand suddenly went down.

Notably, if calculated from the beginning of the week, the price of SJC gold has increased by about 2.5 million VND per tael.

On the side of Bao Tin Minh Chau Company, the price of Rong Thang Long gold at the end of today fluctuated from 62.37-63.32 million VND/tael (buy/sell), an increase of 520,000 VND/tael compared to this morning. The current price is also about 890,000 VND/tael higher than the beginning of the week.

Due to different adjustments, as of this morning, the price of Rong Thang Long gold continues to be lower than the SJC brand by about 13.45 million VND/tael.

In the foreign exchange market, the USD exchange rate at Vietcombank at the end of this afternoon was applied from 24,060-24,400 VND/USD (buy/sell), down 40 VND compared to this morning. BIDV Bank applied the exchange rate from 24,115-24,415 VND/USD, down 45 VND.

Vietinbank announced the buying price is 24,030 VND/USD and the selling price is 24,450 VND/USD, down 25 VND compared to the opening price this morning.