Investors swinging at the peak of the 9999 gold ring suddenly suffered heavy losses

Early this afternoon on April 24, SJC gold bars suddenly recovered quickly, in some places pushing the amplitude higher to help regain all the profits that were blown away in the last two days.

Specifically, the price of gold bars at Saigon Jewelry Company is listed at 82.5 – 84.5 million VND/tael, an increase of 1.5 million VND/tael on the buying side and an increase of 1.2 million VND/tael. The selling volume compared to the price at the end of yesterday’s session.

Meanwhile, at Phu Nhuan Jewelry Company, an additional 2.5 million VND/tael was added on the buying side and an additional 2 million VND/tael was added on the selling side compared to the closing price yesterday afternoon, pushing up the gold trading price. SJC pieces increased to 82.3 – 84.3 million VND/tael.

Some other gold trading enterprises such as Mi Hong, Bao Tin Minh Chau, Bao Tin Manh Hai, TPBank Gold, Eximbank have a lighter adjustment, only increasing by 1 – 1.5 million VND/tael.

Whether the adjusted amplitude increases to a high or low level, the gap between the buying and selling price of SJC gold bars has also narrowed from 2.5 million VND/tael to 2 million VND/tael.

While the price of SJC gold bars fluctuated strongly despite the move to increase supply to the market through gold bidding, 9999 gold rings had a negligible increase.

For example, at SJC, the price of plain round gold rings listed by this business is at 73.1 – 74.9 million VND/tael, only 200,000 VND/tael higher than yesterday afternoon. With the same increase in price, the selling price of gold rings at Mi Hong is currently at 71.7 – 73.2 million VND/tael. Compared to the increase of 9999 gold rings, the increase amplitude of SJC gold bars is 5-7 times higher.

Particularly at DOJI, the price Yellow 9999 ring Currently trading at 74 – 75.65 million VND/tael. Thus, for those who bought gold rings 2 weeks ago – when DOJI anchored the record high price of 76.8 million VND (buy) and 78.6 million VND/tael (sell), the investment is considered to have been completed. negative up to 3 million VND/tael.

Similar to Bao Tin Minh Chau, Bao Tin Manh Hai 2 weeks ago also traded 9999 gold at the buying – selling level of 76.88 – 78.48 million/tael, today it is only 73.88 – 75. 58 million/tael. Investors lost about 3 million/tael.

On the international market, spot gold price is still trading around 2,321 USD/ounce, almost flat compared to a day ago.

Converted according to exchange rates at commercial banks, the international gold price is equivalent to 71.3 million VND/tael, about 13 million VND/tael lower than SJC gold bars. The gap between the price of foreign gold and 9999 gold rings in Vietnam is from 2-4.5 million VND/tael.

That shows that the gap between SJC gold bar price and world gold price is still very far apart. The State Bank’s gold bar bidding solution that has been implemented to narrow the gap between gold bars and world gold prices has not yet been effective.