Many companies have now listed 9999 gold rings below VND82 million per tael.
By around 9:30 a.m., SJC listed 9999 gold rings at VND79 million per tael for buying and VND81.7 million per tael for selling, a decrease of VND500,000 in both directions from the previous day.
PNJ reduced its buying price by VND800,000 and selling price by VND500,000, with current prices at VND80 million per tael for buying and VND81.9 million per tael for selling.
Bao Tin Minh Chau purchased 9999 gold rings at VND80.52 million per tael and sold them at VND82.67 million per tael, marking a decrease of VND660,000 in the buying rate and VND510,000 in the selling rate.
Phu Quy Group quoted 9999 gold rings at VND80.5 million per tael for buying and VND82.7 million per tael for selling, down VND300,000 for buying and VND400,000 for selling.
Prices also fell for SJC gold bars, with SJC, PNJ, Doji Group, and Bao Tin Minh Chau all reducing prices by VND500,000 per tael in both buying and selling rates, listing them at VND80 million per tael for buying and VND83.5 million per tael for selling.
At the four State-owned commercial banks (Agribank, BIDV, Vietcombank, and Vietinbank), the selling price of SJC gold also dropped by VND500,000, settling at VND83.5 million per tael.
In global markets, gold closed in New York on the night of November 13 at $2,572.3 an ounce, a drop of $25.5 from the prior session. On the morning of November 14 (Vietnam time), the spot price on Kitco further declined to $2,562.1 an ounce. This price, when converted, equates to about VND78.6 million per tael, VND4.9 million lower than SJC gold and VND2.5–3.2 million lower than 9999 gold rings.
Global gold prices continue to slide due to pressure from a strengthening US dollar following Donald Trump's election as US president. Compared to the October 30 peak of $2,789 per ounce, global gold prices have now fallen nearly 6.5 percent. Analysts suggest investors are cautious, as Trump's foreign policy commitments focus on ending wars and conflicts. Generally, precious metals experience significant declines when geopolitical tensions ease, as they lose their appeal as safe-haven assets.
