Gold price today 6-8: SJC gold bars continue to fall

(NLDO) - Gold price today in the domestic market has dropped sharply, falling back to nearly 117 million VND/tael.

On Sunday morning, June 8, the price of SJC gold bars was commonly listed by businesses at about 114.9 million VND per tael for buying and 117.2 million VND per tael for selling, down 1 million VND per tael compared to the end of last week.

Along with gold bars, the price of 99.99 gold rings and jewelry gold is also traded around 111.2 million VND/tael for buying and 113.5 million VND/tael for selling, recording a similar decrease of 1 million VND per tael. In the past two weeks, each tael of SJC gold bars and gold rings has lost 3.5 to 3.8 million VND.

SJC gold bar price continued to decrease last week

The decline in domestic gold prices last week occurred in a context where the market was affected by many directives related to the management policy of gold bars and gold rings. Gold prices continuously plummeted before leveling off, while investors are waiting for specific solutions from the State Bank, including amending the gold management decree, granting licenses to import raw gold to produce gold bars, as well as measures to eliminate the monopoly of SJC gold bars.

On the world market, the price of gold closed the week at 3,311 USD/ounce, down about 20 USD/ounce compared to the end of last week. In the past two weeks, this precious metal has lost about 90 USD/ounce, equivalent to about 2.8 million VND per tael if converted at the current exchange rate. Thus, the domestic price of SJC gold bars has remained low for two consecutive weeks.

Gold price today remains at a low level for SJC gold bars in the past 2 weeks

However, both analysts and experts are optimistic about the recovery of gold prices.

According to the results of the gold price trend survey conducted by Kitco, of the 14 experts participating in the survey on Wall Street, 50% said that gold prices will continue to increase, 43% predicted that prices will decrease, and 7% said that prices will go sideways.

Main Street's online survey of 256 individual investors also found that 66% expect gold prices to rise in the near term, while 15% predict prices will fall and 19% think prices will remain unchanged.

Currently, if converted at the listed exchange rate, the world gold price is equivalent to about 104.7 million VND per tael.

Source: https://nld.com.vn/gia-vang-hom-nay-8-6-vang-mieng-sjc-tiep-tuc-di-xuong-196250608091632374.htm