Late this afternoon (November 18th), the price of gold bars listed by major gold trading companies such as Saigon Jewelry Company, DOJI , etc., was 81-84 million VND/ounce (buying price - selling price), an increase of 1,000,000 VND/ounce in the buying price and an increase of 500,000 VND/ounce in the selling price compared to the previous session.

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Customers trading gold at Mi Hong store.

The Bao Tin Minh Chau and Phu Quy brands listed gold bars at 81.2 - 84 million VND/ounce (buying price - selling price), an increase of 900,000 VND/ounce in the buying price and 500,000 VND/ounce in the selling price compared to yesterday's session.

The PNJ gold brand also listed gold bars at 81.8 - 83.2 million VND/ounce (buying price - selling price), an increase of 900,000 VND/ounce in the buying price and an increase of 600,000 VND/ounce in the selling price compared to yesterday's session.

At Mi Hong gold shop (Binh Thanh District), the store listed the SJC gold price at 82.5 million VND/ounce (buying price), 1 million VND/ounce higher than larger businesses, and the selling price at 84 million VND/ounce. The difference between the buying and selling price of this brand is smaller than that of SJC, PNJ, and DOJI. However, this morning the brand announced that it had run out of both gold bars and gold rings.

At Mi Hong, the price of gold rings is listed at 82-83 million VND/ounce (buying price - selling price), with a difference of only 1 million VND/ounce between the buying and selling price of gold rings.

Many customers who brought money to buy gold rings left empty-handed. Ms. Ngoc Thanh (Phu Nhuan District) said that she had gone to two places this afternoon to buy 5 taels of gold rings but was told they were out of stock at both. "This afternoon I went to Mi Hong to ask to buy some but was told...they were out of stock. I guess I'll have to go earlier tomorrow morning," Ms. Thanh said.

"We don't have any gold to sell yet, nor are we accepting pre-orders or deposits. Customers who are interested can come back tomorrow to check the situation," said a staff member at the Mi Hong store.

However, this store is still buying gold as usual; there have been no instances of refusing to buy gold from customers.

At some gold shops on Pham Van Hai Street (Tan Binh District), only gold jewelry is available; gold rings and gold bars are no longer sold. Staff at these shops advise customers to call the store to check the availability of gold rings and gold bars before making a transaction to avoid wasting time.

Economist Truong Hien Phuong, Senior Director of KIS Vietnam Securities, observes that gold buyers may have experienced a significant drop in price in recent days due to a sharp short-term correction. However, gold buyers should remember that gold's important function is as a safe haven asset against economic fluctuations.

"Gold also acts as a buffer for other risky assets such as stocks and real estate, and as a hedge against inflation. From this perspective, the 4%-5% drop in gold prices recently is insignificant," Mr. Phuong said.

Gold prices today, November 18, 2024: Prices increase by over a million dong, plain gold rings continue to rise . Domestic gold prices today, November 18, 2024, for plain gold rings continue to increase, reaching 83.3 million dong/ounce (selling price); SJC gold bars also increased by over a million dong. World gold prices have risen sharply again, nearing the 2,600 USD/ounce mark.