Asian gold falls to more than one-week low; Hanoi SJC prices decline
Spot gold fell to its lowest level in more than a week during Asian trading on November 12. Higher-than-expected US inflation and hawkish signals from Federal Reserve officials strengthened the dollar and expectations of a rate increase. In Hanoi, the SJC gold selling price was 139 million Vietnamese dong per tael.
Gold prices in Asian markets fell to their lowest level in more than a week on the afternoon of November 12. At 2:32 p.m. Vietnam time, spot gold was down 0.7% at $3,959.03 per ounce, having touched its lowest level since November 4. US gold futures for December 2026 delivery fell 0.9% to $3,964.5 per ounce.
Gold jewelry displayed at a store in Jiangsu province, China.（VietVance）
US inflation rose faster than expected in October, while more hawkish policy signals from Federal Reserve officials strengthened the dollar. The dollar reached a 19-month high against other major currencies in the previous trading session, making dollar-priced gold more expensive for buyers holding other currencies.
Markets see a possible 0.5-percentage-point Federal Reserve rate increase in December 2026. CME’s FedWatch tool shows that traders expect one rate increase in December and another in March 2027. Higher interest rates raise the opportunity cost of holding gold, which pays no yield. Traders are also awaiting the US producer price index report, expected on November 13.
Among other precious metals, spot palladium rose 0.5% to $1,032.63 per ounce in trading on November 12. In Hanoi, Công ty Vàng bạc đá quý Sài Gòn set its SJC gold buying and selling prices that afternoon at 136 million and 139 million Vietnamese dong per tael, respectively.
Source: VietVance
