Vietnam gold prices fall on November 12 as gold rings drop by up to VND 2.7 million
At midday on November 12, surveyed dealers generally cut SJC gold bar selling prices to VND 139 million per tael. Gold ring buying and selling prices fell by VND 1.7 million to VND 2.7 million from the previous trading day, while international spot gold slipped below USD 3,970 per ounce.
Quotes at noon on November 12 showed that surveyed dealers had generally lowered SJC gold bar prices. SJC and DOJI each quoted a buying price of VND 136 million per tael and a selling price of VND 139 million per tael, with both prices down VND 500,000 from November 11. Mi Hồng’s selling price was VND 138.5 million, the lowest among the surveyed dealers.
Gold rings fell more sharply. Buying and selling prices at surveyed dealers were down by VND 1.7 million to VND 2.7 million from the previous trading day. DOJI recorded the largest drop, with its buying price falling to VND 134.5 million per tael and its selling price to VND 138.5 million. SJC’s gold ring buying and selling prices each fell by VND 1.9 million, bringing its selling price to VND 138.8 million.
Illustration for a report on gold prices in Vietnam.（VietVance）
Jewelry gold prices also fell broadly. Buying and selling prices for 24K jewelry gold at surveyed dealers declined by VND 500,000 to VND 1.01 million. PNJ’s prices fell by VND 1.01 million, bringing its selling price to VND 131.43 million per tael. All three surveyed dealers cut their 18K jewelry gold prices. Mi Hồng lowered both its buying and selling prices by VND 1 million, bringing its selling price to VND 94.5 million.
In international markets, spot gold fell 0.5% to USD 3,967.80 per ounce at 1:40 p.m. on November 12, while December gold futures were priced at USD 3,968.24 per ounce. Converted using the Vietcombank exchange rate cited in the original report, the international gold price was approximately VND 123.8 million per tael, VND 15.2 million below the domestic gold bar price.
Source: VietVance
