At the end of September 2, gold prices suddenly dropped rapidly.

At the end of September 2, the price of SJC gold bars was maintained by large enterprises at a high level of 129.1 million VND/tael for buying and 130.6 million VND/tael for selling, stable compared to the morning.

However, in the free market, some small shops in Ho Chi Minh City suddenly reduced the price of SJC gold bars by half a million VND, to around 132.6 million VND/tael for buying and 133.6 million VND/tael for selling, down 400,000 VND/tael compared to the morning, but still higher than at large gold companies by about 3 million VND/tael.

Meanwhile, the price of 99.99% gold rings and jewelry gold is listed at 122.5 million VND/tael for buying and 125 million VND/tael for selling, unchanged from this morning.

According to the reporter of Nguoi Lao Dong Newspaper, the domestic gold market is on the 2-9 holiday so the gold price fluctuates little. Mainly some small gold shops adjust prices according to world prices.

In the international market, at the end of today, Vietnam time, the world gold price was traded at 3,481 USD/ounce, down about 30 USD/ounce compared to the historical peak (equivalent to about 950,000 VND). During the trading session, there was a time when the gold price surpassed the 3,500 USD/ounce mark set in April, climbing to 3,508 USD/ounce. This is the highest level in the history of this precious metal.

Gold prices fell sharply in the afternoon today as the USD strengthened. The USD Index (DXY) is rising to 98.4 points, up 0.64% compared to the previous session.

Giá vàng giảm mạnh cuối ngày 2 - 9 , bất ngờ rời khỏi đỉnh lịch sử - Ảnh 2. — The price of SJC gold bars and gold rings are both at historical peaks.

Despite leaving the highest peak, both domestic and international gold prices are at historical peaks. According to analysts, gold prices are being supported by the possibility that the US Federal Reserve (FED) will cut interest rates at its meeting this September. Many investors are betting on the probability that the FED will cut interest rates by 0.25% at its September meeting, and there will be further interest rate cuts later this year and early next year.

Currently, the world gold price converted according to the listed exchange rate at banks is about 111.2 million VND/tael.