The price of plain gold rings and gold bars today plummeted, adjusted hourly, following the downward trend of world gold prices.

Specifically, at the beginning of today's trading session (November 7), Doji Gold and Gemstone Group reduced the price of 9999 gold rings to 84.6-86 million VND/tael (buy - sell), down 2.7 million VND/tael in the buying direction and down 2.4 million VND/tael in the selling direction compared to yesterday's closing price.

After that, the price of 9999 gold rings was adjusted down about 6-7 more times, with each decrease ranging from a few hundred to 1 million VND.

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Gold ring prices plummet. Photo: Chi Hieu

In total for the day, Doji's 9999 gold ring price today decreased by 6.3 million VND/tael for buying and 4.6 million VND/tael for selling, closing the session at 81-83.8 million VND/tael (buying - selling).

Meanwhile, just last week, the price of gold rings increased vertically, with some brands at times being more than 1 million VND higher than gold bars.

Compared to the record price of 88.6-89.6 million VND/tael (buy - sell) achieved last weekend, in just one day, after the US presidential election results with the victory belonging to Mr. Donald Trump, the price of gold rings at Doji "evaporated" 7.6 million VND/tael in the buying direction and became 5.8 million VND/tael cheaper in the selling direction.

The same goes for the price of SJC gold rings. Saigon Jewelry Company (SJC) today also continuously adjusted the price of gold rings down, with a total decrease of 5.4 million VND/tael for buying and 4.1 million VND/tael for selling.

Following the same trend, Bao Tin Minh Chau Company also sharply reduced the price of Thang Long dragon gold round rings.

The price of Thang Long gold rings and dragon gold ended the session in the range of 81.28-84.08 million VND/tael (buy - sell), down 6.05 million VND/tael in the buying direction and down 4.35 million VND/tael in the selling direction compared to yesterday's closing price.

Phu Nhuan Jewelry Company (PNJ) today reduced the selling price of gold rings to 82.5-83.8 million VND/tael (buy - sell), a decrease of 4.5 million VND/tael in the buying direction and 4.4 million VND/tael cheaper in the selling direction compared to the closing price yesterday.

Buy Sell
SJC 81,000,000 VND/tael 83,800,000 VND/tael
Doji 81,000,000 VND/tael 83,800,000 VND/tael
PNJ 82,500,000 VND/tael 83,800,000 VND/tael
Thang Long Dragon Gold 81,280,000 VND/tael 84,080,000 VND/tael

Domestic gold ring price list closing session 11/7

Thus, today's gold ring prices of all brands have been adjusted down sharply, with a decrease of 4.5-6.3 million VND in buying and a decrease of 4.35-4.6 million VND/tael in selling. This is a record decrease in domestic gold prices in one day so far.

The price of SJC gold bars today has also been continuously adjusted downward with a very strong decrease. From morning to afternoon, the price of SJC gold bars decreased 5 times with a total decrease of 6 million VND/tael in the buying direction and a decrease of 3.5 million VND/tael in the selling direction.

Because the buying price decreased more than the selling price, the difference between the buying and selling prices of gold bars widened to 4.5 million VND/tael.

Meanwhile, the difference between buying and selling prices of gold rings is narrower, from 1.3-2.8 million VND/tael.

In the international market , after a sharp drop last night and this morning, the world gold price this evening turned up.

At 6:59 p.m. today (November 7, Vietnam time), the world spot gold price was at 2,666.1 USD/ounce, up 17.8 USD/ounce compared to early this morning.

The world gold price converted according to Vietcombank's selling rate is equivalent to more than 82.7 million VND per tael (including taxes and fees). The difference between the price of SJC gold bars and the world gold price is currently 2.8 million VND per tael.