At 9:00 AM on November 13th, Saigon Jewelry Company (SJC) announced the price of gold rings at 79.5 - 82.2 million VND/ounce (buying price - selling price), a decrease of 400,000 VND/ounce in the buying price and 200,000 VND/ounce in the selling price compared to the closing price yesterday.
DOJI Gold and Gemstone Group listed the price of gold rings at 80.5 - 83.2 million VND/ounce (buying price - selling price), unchanged from the closing price yesterday.
SJC gold bar prices remained stable. SJC Company and DOJI Gold and Gemstone Group announced SJC gold bar prices at 80.5 - 84 million VND/ounce (buying price - selling price), maintaining the same listed prices for both buying and selling compared to the closing price yesterday.
Compared to the beginning of this week, the price of SJC gold bars has decreased by 1.8 million VND/ounce, while the price of gold rings has decreased by 2 million VND/ounce.
On the global market, gold prices fell to their lowest level in nearly two months. Specifically, the spot gold price decreased by 0.7% to $2,600.93 per ounce at 2:23 AM on November 13th (Vietnam time).
During this session, the price of gold briefly fell 1% to $2,589.59 per ounce, its lowest level since September 20, 2024.
Meanwhile, gold futures in the US fell 0.4% to close at $2,606.30 per ounce.
In this session, the USD index rose to its highest level in over four months. This made gold more expensive for those holding other currencies.
Bitcoin also rose amid investor expectations that the cryptocurrency will surge when Donald Trump takes office in January 2025. US government bond yields were also higher.
Despite gold's decline in this session, Daniel Pavilonis, market strategist at brokerage firm RJO Futures, believes the gold market still has an upward trend in the long term. Current US policy is expected to cause inflation, and if inflation continues to rise, gold will benefit.
Technically, Pavilonis predicts the market is showing signs of preparing for a price increase, with support at around $2,600 per ounce.
In accordance with the directives of the Government and the Prime Minister, and based on current legal regulations, the State Bank of Vietnam has recently coordinated with ministries, sectors, and localities to implement comprehensive solutions to address the high gold price disparity between international and domestic markets, stabilize the gold market, and contribute to macroeconomic stability.
Specifically, it is proposed that the Ministry of Public Security, the Ministry of Industry and Trade, and the Ministry of Finance strengthen inspection, auditing, and supervision according to their assigned functions, duties, and powers; strictly handle violations of the law such as gold smuggling across borders, manipulation, and profiteering that destabilize the gold market; and organize auctions and direct sales of gold bars to supplement the supply of SJC gold bars to the market.
With the implemented solutions, the difference between domestic gold prices and converted world gold prices has decreased significantly.
In the coming period, the State Bank of Vietnam will continue to implement solutions to control the price difference between domestic and international gold at an appropriate level, as directed by competent authorities.
Source: https://baohaiduong.vn/gia-vang-nhan-tiep-da-giam-397919.html
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