Gold Prices Plummet to 10-Week Low Amid Profit-Taking Pressure
The price of gold experienced a sharp decrease on August 14th, closing at its lowest point in 10 weeks. SJC gold bars listed between 140.3-143.3 million VND/tael (buying - selling), down 1 million VND/tael from the previous day's prices.
The buying and selling difference for SJC gold bars was at 3 million VND/tael, while DOJI listed similar prices of 140-144 million VND/tael. Bao Tin Minh Chau also reported a threshold price of 140.2-144.2 million VND/tael.
Plain gold rings followed suit with a decrease in price, with Phu Quy Gold and Gems Group listing them at 140.3-143.3 million VND/tael. DOJI listed the price of gold rings at 140-144 million VND/tael, while Bao Tin Minh Chau reported a threshold price of 140.2-144.2 million VND/tael.
The world gold price was also affected, with recorded prices around the threshold of 4,348.1 USD/ounce at 5:40 PM on August 14th. This marked a decrease of 81.4 USD/ounce from the previous day's prices.