Vietnam’s SJC gold bar prices fall less than international gold prices

On the morning of November 10, SJC gold bar prices at several Vietnamese firms rose before falling. SJC, DOJI, PNJ and other firms raised both buying and selling prices by 300,000 dong at the open, then cut both by 600,000 dong within about three hours. Buying and selling prices fell to 137.9 million and 140.9 million dong per Vietnamese tael, respectively. Both were down 300,000 dong from the November 9 close.

SJC gold bar buying and selling prices fell.（VietVance）

Prices varied among firms. As of 11 a.m., Phú Quý quoted SJC gold bars at 137.4 million dong per Vietnamese tael to buy and 140.9 million dong to sell, both down 300,000 dong from the November 9 close. Going against the broader trend, Ngọc Thẩm raised its buying and selling prices by 500,000 dong each, to 137 million and 140.5 million dong, respectively.

Gold bar buying and selling prices at several Vietnamese firms on November 10.（VietVance）

Prices for 9999 gold rings moved in different directions. DOJI’s buying and selling prices each rose 200,000 dong from the November 9 close, to 137.2 million and 141.2 million dong per Vietnamese tael, respectively. PNJ’s prices each fell 300,000 dong, to 136.1 million and 140.3 million dong, respectively. Phú Quý also cut both its gold ring prices by 300,000 dong.

As of 11:30 a.m. Vietnam time on November 10, international spot gold had fallen more than 0.6% to $4,115 an ounce. Selling prices for SJC gold bars at major Vietnamese firms were down about 0.21% from the November 9 close. Using the Vietcombank exchange rate and the tax and fee basis cited in the source article, SJC gold bars were priced about 11.79 million dong per Vietnamese tael above international gold.

The gap between domestic and international gold prices in Vietnam on November 10.（VietVance）

Source: VietVance