Vietnam Gold Prices Fall Across the Board on November 10; Some Gold Bars Drop VND 1.2 Million per Tael
Gold shops across Vietnam cut prices for gold bars, plain gold rings and jewelry on November 10. Mi Hồng lowered both its buying and selling prices for gold bars and plain gold rings by VND 1.2 million per tael from the previous day. International spot gold also fell, reaching USD 4,121.90 per ounce at 1:40 p.m.
Store quotations at 11:30 a.m. on November 10 showed that several Vietnamese gold shops had lowered their prices for SJC gold bars. Compared with November 9, buying prices fell by VND 500,000 to VND 1.2 million per tael, while selling prices fell by VND 800,000 to VND 1.2 million per tael. In Ho Chi Minh City, SJC quoted VND 137.9 million per tael for buying and VND 140.9 million per tael for selling, both down VND 800,000 per tael.
DOJI cut both its buying and selling prices for gold bars by VND 1.1 million per tael in Hanoi and Ho Chi Minh City, to VND 137.9 million and VND 140.9 million per tael, respectively. Mi Hồng cut both prices by VND 1.2 million per tael, to VND 139 million and VND 140.5 million per tael, respectively—the largest declines among the listed sellers.
Prices for plain gold rings also fell broadly. SJC lowered both its buying and selling prices by VND 600,000 per tael, to VND 136.7 million and VND 140.7 million per tael, respectively; DOJI cut both prices by VND 300,000 per tael. Mi Hồng lowered both prices by VND 1.2 million per tael, to VND 139 million and VND 140.5 million per tael, respectively.
File photo of gold jewelry.（VietVance）
For gold jewelry, PNJ cut both its buying and selling prices for 24K pieces by VND 1 million per tael, to VND 129.2 million and VND 134 million per tael, respectively. It also cut both prices for 18K jewelry by VND 750,000 per tael, to VND 94.5 million and VND 100.5 million per tael, respectively. SJC and DOJI also lowered their 24K gold jewelry prices.
Internationally, Kitco data showed spot gold down 0.42% to USD 4,121.90 per ounce at 1:40 p.m. on November 10; December gold futures were quoted at USD 4,123.50 per ounce. Converted using the Vietcombank exchange rate cited in the article, the international gold price was about VND 127.9 million per tael, roughly VND 13 million per tael below the listed domestic gold bar selling price of VND 140.9 million per tael.
Source: VietVance
