Gold price drops 300,000 VND/tael after reaching all-time high

The price of SJC gold bars today, February 21, decreased to 92 million VND/tael. The price of gold rings also decreased.

SJC gold bar price decreased by 300,000 VND/tael compared to yesterday - Photo: THANH HIEP

Gold bar and gold ring prices both decreased

Yesterday, domestic and international gold prices both set all-time records. However, immediately after that, world gold prices fell rapidly due to profit-taking pressure.

As of this afternoon, the world gold price was at 2,929 USD/ounce. Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 90.61 million VND/tael.

The decrease in world gold prices has caused domestic gold prices to decrease as well. SJC Company listed the price of SJC gold bars at VND92 million/tael (sell) and VND89.7 million/tael (buy).

The price of 9999 gold rings sold at SJC Company also decreased by 300,000 VND/tael, to 91.8 million VND/tael (selling) and 89.6 million VND/tael (buying).

At PNJ Company, the selling price of 9999 gold rings decreased by 200,000 VND/tael, to 92 million VND/tael, the buying price was at 90.2 million VND/tael.

At other gold companies, the price of 9999 gold rings also went down. For example, at Bao Tin Minh Chau Company, the price of 9999 gold rings decreased to 92.1 million VND/tael, buying at 90.35 million VND/tael.

At Mi Hong gold shop, the selling price of SJC gold bars is 91.5 million VND/tael, the buying price is 90.5 million VND/tael.

Gold buying and selling price difference drops sharply

Notably, in recent days, the gap between buying and selling gold prices has narrowed significantly. For example, at Mi Hong, the gap is only 1 million VND/tael. Meanwhile, at some other large gold companies, the gap is from 1.8-2.3 million VND/tael, while in previous days, the gap was up to 4 million VND/tael.

Since the beginning of 2025, the world gold price has increased by 11%, breaking the old record due to the continued increase in risk hedging demand of global investors following the tariff policy of US President Donald Trump.

According to analysts, the policy of imposing a 10% tax on imports from China has disrupted global trade flows, thereby triggering safe-haven demand for gold.

Yesterday, the world gold price hit an all-time high after US President Donald Trump said he was considering imposing a 25% tax on lumber and forest products, effective around April 2.

Source: https://tuoitre.vn/gia-vang-giam-300-000-dong-luong-sau-khi-dat-dinh-cao-nhat-moi-thoi-dai-20250221153020297.htm