On the afternoon of 8/1, Saigon Jewelry Company (SJC) listed gold bar prices at 155,2 - 157,2 million VND per tael, marking a decrease of 900,000 VND compared to yesterday.

Other brands also adjusted similarly to SJC. This decline ended the precious metal's three-day consecutive upward streak.

For plain gold rings, SJC reduced prices by 500,000 VND, settling at 151,9 - 154,4 million VND per tael. PNJ and Doji traded around 153 - 156 million VND, while Bao Tin Minh Chau was at 154,8 - 157,8 million VND per tael.

Domestic gold prices declined in line with international prices. Each ounce of world spot gold fell by over 22 USD, reaching 4,433 USD. Over the past two days, this precious metal has lost about 60 USD.

Converted at Vietcombank's exchange rate, world gold is equivalent to 141 million VND per tael, a difference of 16 million VND compared to domestic prices. David Meger, Director of Precious Metals Trading at High Ridge Futures, commented that the market declined "due to investors selling off for profit after several strong upward sessions".

Domestic silver bar and ingot prices also decreased by over 4%. Phu Quy Gold Investment Joint Stock Company listed this item at 2,86 - 2,95 million VND per tael. Sacombank - SBJ traded around 2,99 - 3,07 million VND.

Trong Hieu