Prices of gold bars of other brands like DOJI and Phu Quy dropped further, by VND300,000-350,000.

Selling prices of gold rings also decreased VND200,000 to VND51.2 million per tael.

Gold bars are seen at a jewelry shop in Ho Chi Minh City on February 10, 2022.

Prices of gold bars have declined for three straight trading sessions to the lowest over the past month. SJC gold prices are higher than the world average by some VND17.7 million per tael.

In the world market, gold dropped for a second day after Federal Reserve Chair Jerome Powell pushed back against hopes the U.S. central bank would start easing monetary policy soon, signaling instead that interest rates would keep rising and remain elevated to stamp out inflation.

Spot gold fell as much as 1% to $1,720.45 an ounce, the lowest level since July 27, and traded at $1,723.70 as of 10:21 a.m. in London, according to Bloomberg.

Gold prices soar to new peak

Vietnamese gold prices hit a new all-time high of VND64.8 million (US$2,838.4) per tael Thursday as global rates skyrocketed amid tensions over the Ukraine situation.

Vietnam gold prices rise to new record

Gold prices in Vietnam hit a new peak Monday ahead of the God of Wealth Day amid surging demand.

Gold prices hit new peak

Vietnam’s gold price hit a new historic peak of VND62.7 million ($2,769.32) per tael Tuesday, surpassing the previous record in August 2020, even as global rates went flat.

Gold prices hit 15-month high

Vietnamese gold prices are now at a 15-month high and, as always, well above global rates.

Source: VnExpress