Gold price today February 21: SJC gold plunges sharply on the occasion of Than Tai

On February 21 (January 10), gold trading businesses opened their doors for trading early in the morning to serve the needs of people buying gold for luck.

Many chains of gold stores and gold businesses start to welcome customers from 5 am. The updated SJC gold price also has a significant difference between gold shops.

At 6:30, Mi Hong chain stores (Binh Thanh district, Ho Chi Minh City) listed the price of SJC gold buying 55.8 million VND / tael, selling 56.15 million VND / tael, down about 200,000 VND / tael. with yesterday morning. This business is open from 5 am to welcome guests on the occasion of Than Tai.

Phu Nhuan Jewelry – Gemstone Company (PNJ) is also open for trading from 6 o’clock on the 10th of the new year and said that there were the first visitors to buy gold on Than Tai day throughout the system across the country.

The price of SJC gold at 6:30 was traded at around 55.7 million VND / quantity purchased, 56.4 million VND / sold by PNJ, unchanged from yesterday.

The first guests came to buy gold on Than Tai day at PNJ Company. Photo: P. Thua

The difference between buying and selling prices was also expanded by businesses to the highest level of about 700,000 VND / tael in the context of the occasion of Than Tai, the need to buy gold bars, plain rings, jewelry gold … to get lucky. often high.

Surprisingly in the past 3 days, SJC gold price dropped sharply compared to before. Only in 3 days of Than Tai (the 8th, 9th, 10th day of Tet), each amount of SJC gold has decreased by about 500,0000 VND.

However, the price of SJC gold still has a big difference with the world price.

On the international market, the world gold price closed the week at 1,784 USD / ounce, down 40 USD / ounce compared to the end of last week, equivalent to a decrease of about 1.1 million VND / tael. The strong decline made the world gold price still lower than SJC gold by 6.7 million dong / tael.

The movement of the world gold price last week was exactly as analysts predicted on the previous trend, in the context of the recovery of US government interest rates, attracting cash flows into this investment channel; USD rebounded; Investment funds continuously sold gold and electronic currencies like Bitcoin set new highs …

Regarding the gold price trend next week, the Kitco survey results show that the market continues to be less optimistic with this precious metal, as most analysts continue to forecast the price of gold will decline.

Specifically, at a survey on Wall Street, 18 market experts responded, of which 72% of respondents believe that gold prices will continue to fall. This is the rate of reply that the gold price has decreased very high in recent weeks of survey. Only 17% said the price of gold rose and the remaining 11% said the price of the precious metal would go flat.

In an online survey in Main Street, 1,292 investors responded, of which 43% said the price of gold would increase, 40% of respondents expected gold prices to go down and the rest expected gold prices to go flat. .

Some analysts believe that the price of gold will fluctuate in the range 1,700 – 1,900 USD / ounce in the coming time, but it is difficult to recover back to 2,000 USD / ounce when the global economy shows signs of improvement. The precious metal is also under pressure from hot-rising cryptocurrencies, such as Bitcoin, consistently peaking and surpassing the $ 55,600 mark.

On the foreign currency market, the central exchange rate listed by the State Bank at 23,134 VND / USD, stable compared to yesterday. The USD price at commercial banks was also unchanged compared to yesterday when it was listed around 22,925 VND / USD bought in, 23,105 VND / USD sold.

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