Prices of SJC-branded gold bars, 9999 gold rings dropped

On December 6, the domestic gold price witnessed a steep fall. Several businesses have sharply reduced the selling price of SJC-branded gold bars and lowered the buying price a little.

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Customers trade gold at a store. (Photo: SGGP)

Accordingly, Phu Nhuan Jewelry Joint Stock Company (PNJ) announced the buying price of a tael of gold at VND82.8 million (US$3,261) per tael and the selling price at VND84.8 million (US$3,340), down VND200,000 a tael for buying and VND700,000 for selling compared to yesterday’s trading session.

The price of SJC-branded gold bars of Phu Quy Gold, Silver, Gem Stone Group, and Bao Tin Minh Chau Company also dropped by VND700,000 a tael for both buying and selling to VND82.3 million per tael and VND84.8 million per tael, respectively.

According to the State Bank of Vietnam (SBV), the direct selling price of an SJC-branded gold bar of four State-owned commercial banks, including Vietcombank, VietinBank, Agribank, and BIDV, was VND84 million per tael, down VND700,000 per tael.

Saigon Gold and Jewelry Company (SJC) listed 9999 gold ring prices at VND82.3 million per tael for buying and VND83.8 million per tael for selling, down VND700,000 million for buying and VND500,000 for selling.

Phu Quy Gold, Silver, and Gem Stone Group bought 9999 gold rings at VND82.7 million per tael and sold them at VND84 million, dropping VND500,000 a tael for buying and VND400,000 for selling.

Bao Tin Minh Chau Company’s 9999 gold ring prices dropped by VND400,000 a tael for buying and selling to VND82.88 million per tael and VND83.98 million per tael, respectively.

Phu Nhuan Jewelry Joint Stock Company (PNJ) bought 9999 gold rings at VND82.8 million per tael and sold them at VND83.9 million, declining VND400,000 a tael for buying and VND450,000 for selling.

The gold spot price from the international gold market of Kitco was traded at US$2,631.1 per ounce on the evening of December 5 (local time), down US$18.3 compared to the last trading session, and purchased at US$2,624 per ounce on the morning of December 6, dropped US$7 per ounce, equivalent to VND80.55 million per tael. It is lower than the domestic SJC gold price by approximately VND4.25 million per tael and VND3.35 million per tael lower than the price of 9999 gold rings.

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