Vietnam’s SJC gold bars fall for five straight sessions; resale losses reach 6.2 million dong per tael
As of November 14, several Vietnamese dealers quoted SJC gold bar buying prices at 134.5 million dong per tael, down markedly from early November. Buyers who paid 140 million dong per tael on November 2 and resold at current buying prices faced losses of up to 6.2 million dong per tael at some dealers.
At the November 14 close, SJC, DOJI, PNJ and other dealers quoted SJC gold bar buying prices of 134.5 million dong per tael and selling prices of 137.5 million dong per tael, both down 500,000 dong from November 13. From November 9 to 14, gold bar prices fell for five consecutive trading sessions, with major dealers’ buying and selling quotes declining by about 3.7 million dong in total.
Prices still varied among dealers. Bảo Tín Minh Châu quoted an SJC gold bar buying price of 133.8 million dong per tael and a selling price of 137.5 million dong per tael; Ngọc Thẩm quoted a buying price of 133.5 million dong per tael and a selling price of 137 million dong per tael.
SJC’s gold bar buying and selling prices from November 9 to 14, compiled from dealers’ quotes.（VietVance）
Based on the SJC gold bar selling price of 140 million dong per tael on November 2, buyers who purchased then would lose about 5.5 million dong per tael if they resold at some dealers’ November 14 buying prices. Reselling at Bảo Tín Minh Châu’s buying price would mean a loss of 6.2 million dong per tael. Resale losses on pure gold rings bought during the same period were about 2.5 million to 5.5 million dong per tael.
Estimated resale losses on SJC gold bars and pure gold rings purchased in the first half of November.（VietVance）
Pure gold rings also fell this week, but by less than SJC gold bars, with major dealers’ quotes declining by about 3 million to 3.7 million dong per tael in total. Internationally, spot gold in New York closed at $3,881.8 an ounce on November 13, up slightly from the previous day but down 4.5% for the week. Using the exchange rate, taxes and fees applied in the source text, Vietnamese gold bar prices were about 15 million dong per tael higher than international gold prices.
Source: VietVance
