At approximately 9:15 a.m., SJC gold prices listed by SJC, PNJ, Doji Group, and Bao Tin Minh Chau were VND80.5 million per tael for buying and VND84 million per tael for selling, a reduction of VND100,000 on both sides compared to the previous day.
Similarly, SJC gold prices at four State-owned banks (Agribank, BIDV, Vietcombank, and Vietinbank) fell by VND100,000, listed at VND84 million per tael this morning.
The price of 9999 gold rings, which dropped by over VND2 million per tael the previous day, continued to decline by another VND400,000 - VND700,000 per tael.
Specifically, SJC lowered its 9999 gold ring price by VND700,000 for buying and VND500,000 for selling, now listed at VND79.5 million per tael for buying and VND82.2 million per tael for selling.
PNJ also reduced prices by VND400,000 on both ends, trading at VND80.8 million per tael for buying and VND82.4 million per tael for selling.
Phu Quy Group bought 9999 gold rings at VND80.7 million per tael and sold them at VND83.1 million per tael, a decrease of VND500,000 on the buying rate and VND400,000 on the selling rate.
Buyers who purchased 9999 gold rings at the peak price of VND89.8 million per tael at the end of October 2024 have now faced losses of nearly VND10 million per tael within two weeks.
In the global market, gold prices closed at $2,597.8 an ounce in New York on November 12, then rebounded to $2,609.9 an ounce on the morning of November 13. This price, equivalent to VND80.1 million per tael, is around VND3.9 million lower than SJC gold and VND2.5 - 2.9 million lower than 9999 gold rings.
The recent drop in global gold prices is due to a strong US dollar and widespread sell-offs. The DXY index climbed to 105.54 points, its highest level since July 2024, as many investors shifted to riskier assets like stocks and cryptocurrency. The US stock market has recently reached new highs, and Bitcoin also hit a record level of nearly $90,000 earlier this week.
