After an exciting week of the God of Wealth, the domestic gold price dropped. If buying gold from the beginning of the week, selling at the end of the week, buyers will suffer a loss of up to 1.4 million dong/tael.
Opening the first session of the week on January 30, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.8 million dong/tael (buying in) – 67.8 million dong/tael (sold out). SJC Hanoi listed at 66.8 million dong/tael (buy in) and 67.82 million dong/tael (sold out).
Doji Hanoi listed at 66.8 million dong/tael (buy in) and 67.9 million dong/tael (sold out). Doji Ho Chi Minh City bought SJC gold at 66.8 million dong/tael and sold it at 67.9 million dong/tael.
The price of gold fell on the day of the God of Wealth. Session on January 31, the price of 9999 gold bars at SJC decreased by 500 thousand dong/tael compared to the opening at the beginning of the week, trading at 66.3 million dong/tael (buying) – 67.7 million dong/tael (selling). go out). Doji Hanoi listed at 66.1 million dong/tael (buy in) and 67.2 million dong/tael (sold out).
After dropping, domestic gold price rebounded on 1/2 session. SJC gold price at the end of 1/2 session increased by 300 thousand dong compared to the day of Than Tai in the buying afternoon but still decreasing in the selling afternoon. SJC gold price listed at 66.6 million dong/tael (buy in) and 67.42 million dong/tael (sold out).
Closing the last session of the week on February 4, the price of 9999 gold bars at SJC HCMC was 66.4 million dong/tael (buying in) – 67.4 million dong/tael (sold out). SJC Hanoi listed at 66.4 million dong/tael (buying in) and 67.42 million dong/tael (sold out).
Doji Hanoi listed at 66.2 million dong/tael (buy in) and 67.2 million dong/tael (sold out). Doji Ho Chi Minh City bought SJC gold at 66.2 million VND/tael, sold it at 67.2 million VND/tael.
On a weekly basis, the domestic gold price at SJC decreased by 400 thousand dong/tael. At Doji, the price of gold decreased by 600,000 VND/tael.
Thus, if buying gold at the beginning of the week for 67.8 million dong/tael, selling at the end of the week for 66.4 million dong/tael, the buyer loses 1.4 million dong/tael.
According to the World Gold Council’s (WGC) Gold Demand Trends Report 2022, Vietnam’s gold consumption demand in the fourth quarter of 2022 increased by 58% over the same period in 2021, to 13.5 tons.
In which, the demand for bullion and gold coins reached 9 tons, up 48% over the same period in 2021. Jewelry demand increased by more than 80% over the same period in 2021, to 4.5 tons. In 2022, the Vietnamese market consumed a total of 43 tons of gold, an increase of 37% compared to 2021.
In the world gold market, spot gold price closed at 1,864.3 USD/ounce. Gold futures price traded at 1,865.3 USD/ounce.