Vietnam Gold Prices Fall Across the Board; SJC Bars Drop to VND 137.5 Million per Vietnamese Tael

From November 7 to 14, gold prices generally fell among surveyed dealers in Vietnam. Saigon Jewelry Company (SJC) cut both its buying and selling prices for gold bars by VND 3.5 million per Vietnamese tael. On November 14, its buying price was VND 134.5 million and its selling price was VND 137.5 million; the selling price of SJC gold bars at all surveyed dealers fell from VND 141 million a week earlier to VND 137.5 million.

The decline in gold bar buying prices varied slightly among dealers. On November 14, buying prices at surveyed dealers ranged from VND 133.8 million to VND 136 million per Vietnamese tael, while all quoted a selling price of VND 137.5 million. The price comparison included dealers in Ho Chi Minh City and Hanoi.

Gold ring prices also fell across the board. Phu Nhuan Jewelry (PNJ) cut its buying price for gold rings by VND 3.6 million per Vietnamese tael over the week, the largest decline among surveyed brands. On November 14, its buying price was VND 132.7 million and its selling price was VND 136.9 million, down VND 3.4 million from November 7.

File photo of the gold market.（VietVance）

For gold jewelry, PNJ’s buying price for 24K pieces fell VND 6.31 million per Vietnamese tael to VND 128.39 million, the largest decline among all types of gold surveyed; its selling price fell VND 5.02 million to VND 134.18 million. Prices for 18K jewelry also declined: PNJ’s selling price dropped VND 3.76 million over the week to VND 100.64 million, while its buying price fell just VND 60,000.

Source: VietVance