Gold Ring 9999 October 2: The performance of gold rings is "disappointing"

When world gold prices weaken, domestic gold rings also react in the same direction but with a narrower margin. Falling back to around the mark of 89 million VND/tael, gold rings lost nearly 1% compared to the record peak. Updated at 2:00 p.m. on November 2, SJC rings listed buying and selling transactions at 87.40 - 88.90 million VND/tael, buying and selling prices were flat compared to Friday's closing price. Bao Tin Minh Chau rings , listed for buying and selling transactions at 87.98 - 88.98 million VND/tael, down 200,000 VND/tael of buying and selling compared to the end of yesterday. Reduced by 200,000 VND compared to the closing session on November 1, Phu Quy rings brought the buying - selling transaction down to the threshold of 87.90 - 89.10 million VND/tael. Recording a decrease of 100,000 VND compared to the previous session's close, the Doji ring currently has a buying - selling price of 88.00 - 89.00 million VND per tael. VietNamgold rings adjusted the buying and selling price by 200,000 VND compared to the previous closing session, down to 87.90 - 88.90 million VND/tael. Maintaining the level of 89.5 million VND/tael, the selling price of SJC gold bars is currently 400,000 VND higher than gold rings. In the afternoon of buying, gold bars are still lower than the buying price of gold rings by up to 500,000 VND per tael. Closing the week at 2736.5 USD/ounce, the world gold price converted at the exchange rate on the free market (25,850 VND/USD) reached 86.23 million VND/tael (including taxes and fees), lower than gold ring 2.87 million VND. Falling sharply after reaching its peak, world gold's current price at 2,736 USD/ounce is 1.9% lower than its peak of 2,790 USD. Meanwhile, domestic gold rings also tend to decrease, but the current price around VND 89 million is only about 0.8% lower than the record peak of VND 89.8 million reached on October 31. In the context of a sharp decline in world gold prices, investors with long-term strategies see this as an opportunity to buy if the domestic gold price declines. However, the downward trend of domestic gold, here talking about gold rings, recorded a very modest decline compared to world gold prices, making those who were waiting for prices to fall deeper feel disappointed, because the current price is still not as attractive as their expectations. The demand for gold rings remains high, especially with the tendency to hoard in the context of volatile financial markets, keeping the price of gold rings more stable than the large fluctuations in the world gold market.

Gold Ring 9999 October 2: The performance of gold rings is “disappointing”

When world gold prices weaken, domestic gold rings also react in the same direction but with a narrower margin. Falling back to around the mark of 89 million VND/tael, gold rings lost nearly 1% compared to the record peak.

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