On the morning of 23/7, Saigon Jewelry Company (SJC) adjusted its gold bar buying and selling prices twice, currently set at 136 - 142 million dong per tael. The precious metal saw a 6 million dong decrease in buying price and a 4 million dong decrease in selling price compared to yesterday's close. This also represents the lowest price recorded since 11/6.

For plain rings, SJC also reduced buying prices by 6 million dong and selling prices by 4 million dong, bringing them to 135 - 141 million dong.

PNJ offered the same selling price but a one million dong higher buying price. DOJI traded around 136 - 142 million dong, while at Bao Tin Minh Chau, prices were 138 - 143 million dong.

Domestic gold prices declined in line with the global market. This morning, the spot price of international gold decreased by nearly 15 USD per ounce, falling to 4,114 USD.

Converted using the Vietcombank exchange rate, this precious metal is equivalent to 131 million dong per tael. Thus, domestic gold maintains a premium of nearly 11 million dong compared to international prices, a narrower gap than the 18-20 million dong difference seen earlier this month.

The market downturn is attributed to the escalating conflict in the Middle East, which has pushed oil prices higher. Investors are also focused on the US Federal Reserve (Fed) meeting next week, seeking clues about potential interest rate hikes. Higher interest rates typically reduce the appeal of precious metals, as they do not offer fixed returns.

In contrast, silver bar and ingot prices increased by nearly 0,4% today compared to yesterday. Phu Quy and DOJI both listed this metal at 2,23 - 2,30 million dong per tael, equivalent to 59,5 - 61,4 million dong per kg.

Trong Hieu