Vietnam Gold Bar Prices Reach 138 Million Dong per Tael on November 15

On November 15, SJC Company listed buying and selling prices for SJC gold bars at 134.5 million and 137.5 million Vietnamese dong per tael, respectively. SJC gold rings were quoted at 133.3 million to 137.3 million dong. Bảo Tín Minh Châu quoted SJC gold bars at 133.8 million to 137.5 million dong and gold rings at 133.8 million to 137.8 million dong.

Bảo Tín Mạnh Hải quoted SJC gold bars at 135 million to 138 million dong per tael, unchanged from its November 14 quotation. Its Kim Gia Bảo 24K product had a buying price of 133.8 million dong and a selling price of 137.8 million dong. BTMH 9999 round gold rings had a buying price of 132.8 million dong, with no selling price announced yet.

In the international market, data recorded by Reuters showed spot gold at $3,879.71 an ounce at around 2:05 a.m. Vietnam time on November 14, late in the November 13 trading session, up 0.1%. December gold futures closed virtually unchanged at $3,886.30. Spot gold briefly rose to $3,922.97 after the United States reported that its October Producer Price Index had risen 0.3% from the previous month, below the market forecast of 0.4%.

Gold prices subsequently fell. On November 12, gold had dropped about 3% to its lowest level in more than a year. It lost about 4.5% over the week, its largest weekly decline since early June. Reuters reported that, after the producer price data was released, the market-implied probability of a 0.25 percentage point Federal Reserve rate increase in December fell to 91.4% from 96.2%. Independent analyst Tai Wong said gold was struggling to sustain its gains after the data release as the Fed’s hawkish stance continued to weigh on the bond market.

Source: VietVance