At noon on November 25, gold shops simultaneously lowered their buying and selling prices.

(NLDO) – Just in the morning, the world gold price plummeted nearly 50 USD/ounce, causing the price of SJC gold bars and gold rings to fall simultaneously.

At noon on November 25, after several hours of fixing the price, SJC company adjusted the price of SJC gold bars down to 84.8 million VND/tael for buying and 86.8 million VND/tael for selling, down 200,000 VND/tael compared to the beginning of the day. This is the first price reduction of gold in the past week.

PNJ and DOJI companies also simultaneously changed their listing boards, in the direction of reducing the price of SJC gold bars to be equal to that of SJC Company.

Mi Hong Company also lowered the selling price of SJC gold bars, while the buying price was higher, 85.3 million VND/tael.

Banks such as ACB and Eximbank sell SJC gold bars at 86.8 million VND/tael, while ACB buys at 85.5 million VND/tael. Eximbank alone buys gold bars at only 85 million VND/tael.

World gold price "free fall" this morning

With 99.99 plain gold rings, SJC Company reduced the buying and selling price of plain gold rings to 84 - 86 million VND/tael, down half a million VND/tael compared to yesterday.

PNJ Company quoted the buying price of plain gold rings at 84.7 million VND/tael, selling price at 86.2 million VND/tael. Some other businesses also lowered the selling price of gold rings more strongly, to around 86 million VND/tael...

Domestic gold prices fell amid a "free fall" in world prices. At 11:30 a.m. Vietnam time, today's gold price on the international market fluctuated violently, falling to only 2,674 USD/ounce, a sharp drop of about 45 USD/ounce (equivalent to a decrease of about 1.3 million VND/tael).

In a quick conversation with a reporter from Nguoi Lao Dong Newspaper about the sharp decline in gold prices this morning, gold expert Tran Duy Phuong said that the news that Mr. Donald Trump nominated a new Secretary of the Treasury in the US caused the gold price to fall below the mark of 2,690 USD/ounce. At the same time, the sharp increase of 135 USD/ounce in gold prices in just one week triggered investors' profit-taking selling pressure when the market had unfavorable news.

SJC gold bar price at banks in the afternoon is higher than at SJC company

"However, the gold price is unlikely to fall below the $2,600/ounce mark and the outlook for gold prices from now until the end of the year is still very bright, as the tension in the Middle East has not been completely resolved," said Mr. Phuong.

Gold expert Nguyen Ngoc Trong also said that the current gold price has increased too much and has not formed a sustainable upward trend, so it is prone to strong fluctuations. Precious metals can increase rapidly - decrease sharply when there is information on the financial market affecting such as the adjustment of about 40-50 USD/ounce in this morning's session.

"This is a time of policy transition when the US has a new President but specific policies have not yet been implemented. The effectiveness of the policies cannot be measured specifically. Therefore, investors need to carefully observe, including domestic gold prices - when the price of 99.99 gold rings is closely following the world price" - Mr. Trong said.

Source: https://nld.com.vn/trua-25-11-cac-tiem-vang-dong-loat-ha-gia-mua-ban-196241125115346108.htm