Vietnam’s SJC Gold Price Falls to VND 139 Million per Tael on November 12
On the morning of November 12, the selling price of SJC gold in Vietnam fell by VND 1 million from the previous close to VND 139 million per tael. Some gold ring prices also declined. International gold prices fell, while the State Bank of Vietnam raised its central USD/VND exchange rate by VND 12.
After trading opened on the morning of November 12, domestic gold prices in Vietnam fell. At 9:15 a.m., Saigon Jewelry Company and Doji both quoted SJC gold at VND 136 million per tael for buying and VND 139 million per tael for selling, with both prices down VND 1 million from the November 11 close.
On the morning of November 12, domestic gold prices in Vietnam followed international prices lower, falling by VND 800,000 to VND 1 million per tael.（VietVance）
Phú Quý quoted both SJC gold and gold rings at VND 135.7 million per tael for buying and VND 139 million per tael for selling, down VND 1 million. At Bảo Tín Minh Châu, gold ring prices fell by VND 800,000, with a buying price of VND 134.7 million and a selling price of VND 138.7 million per tael. Gold dealers maintained buying and selling spreads of VND 3 million to VND 4 million per tael.
Over the same period, the international gold price hovered around USD 3,975 per ounce, down more than USD 60 from the same time on November 11. Converted at Vietcombank’s USD exchange rate, the international price was equivalent to about VND 123.7 million per tael, approximately VND 15.3 million below the SJC gold selling price.
In the foreign exchange market, the State Bank of Vietnam set the central USD/VND exchange rate at VND 25,623 per USD, up VND 12 from the November 11 close. Vietcombank quoted USD buying and selling rates of VND 25,440 and VND 25,850, respectively, both up VND 10; VietinBank quoted VND 25,415 and VND 25,860, both up VND 25. BIDV and Eximbank raised their quoted rates by VND 18 and VND 20, respectively.
Source: VietVance
