Domestic gold prices decreased, mirroring a downturn in international markets. At the close of trading on 4/9, each ounce of world spot gold lost over 43 USD, settling at 4,429 USD. Converted at the Vietcombank exchange rate, this precious metal is equivalent to 141 million VND.

The market experienced fluctuations after the US reported stronger-than-expected job data, raising expectations that the Federal Reserve (Fed) might increase interest rates this month. In a high-interest rate environment, gold becomes less attractive as it does not offer periodic interest.

Additionally, a stronger US dollar makes gold more expensive compared to other currencies. Han Tan, an analyst at Bybit, stated that upcoming US consumer price index (CPI) data, to be released next week, could trigger larger fluctuations for the precious metal.

Domestically, Saigon Jewelry Company (SJC) listed gold bar prices at 144,6 - 147,6 million VND per tael, a one million VND decrease from yesterday. Other brands implemented similar adjustments.

Consequently, domestic gold now trades with a gap of nearly seven million VND compared to world prices, widening from the one-three million VND difference observed at the end of August.

SJC also reduced prices for plain gold rings by one million VND, setting them at 144,1 - 147,1 million VND per tael. PNJ sold this item 500,000 VND higher than SJC, while maintaining the same buying price. Bao Tin Minh Chau listed plain rings around 145,5 - 149,5 million VND, whereas DOJI's price was 146 - 150 million VND.

Domestic silver bars and ingots also saw a 1% decrease today compared to yesterday. Phu Quy and Ancarat traded silver bars at 2,24 - 2,31 million VND per tael, equivalent to 59,7 - 61,6 million VND per kg. Meanwhile, DOJI's transaction price was 2,28 - 2,38 million VND per tael.

Trong Hieu