Afternoon of September 18: SJC Gold Bars and Ring Prices Continue to Plummet

As of the afternoon of September 18th, SJC gold prices remained relatively stable, while ring gold prices continued to decline by approximately 200,000 to 400,000 VND per tael compared to this morning. This brought the total daily decrease to around 400,000 to 800,000 VND per tael.

At Bao Tin Minh Chau, as of 2:00 PM, the price of 9999 smooth ring gold was 127.2 – 130.2 million VND per tael, a further decrease of 200,000 VND per tael from this morning.

At DOJI Group, smooth ring gold also dropped to 126.6 – 129.6 million VND per tael, a decrease of 400,000 VND per tael.

At SJC Company, smooth ring gold was priced at 125.8-128.5 million VND per tael, down by an additional 500,000 VND per tael.

At Phu Nhuan Jewelry (PNJ), smooth ring gold was at 126.3 – 129.3 million VND per tael, a decrease of 500,000 VND per tael.

In the international market, spot gold stood at $3,636.6 per ounce, continuing its downward trend from early this morning. Compared to the recent peak of $3,708 per ounce, the precious metal has lost $72 per ounce.

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Updated at 9:45 AM, both ring gold and SJC gold prices fell by approximately 200,000 to 500,000 VND per tael.

At SJC Company, SJC gold prices decreased by 300,000 VND per tael to 130.0-132.0 million VND per tael. Ring gold prices also dropped by 300,000 VND per tael to 126.3-129.0 million VND per tael.

At Bao Tin Minh Chau, SJC gold was listed at 130.0-132.0 million VND per tael. The price of 9999 smooth ring gold decreased by 400,000 VND per tael to 127.2-130.2 million VND per tael.

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Before the trading session on September 18th, SJC gold prices on the market were generally around 130.3-132.3 million VND per tael. Meanwhile, ring gold prices were approximately 126.6 – 126.8 million VND per tael for buying and 129.3 – 129.8 million VND per tael for selling.

Specifically, at 7:30 AM, smooth ring gold at DOJI was listed at 126.8-129.8 million VND per tael. SJC Company applied 126.6-129.3 million VND per tael for this type of gold. Bao Tin Minh Chau had a higher price, listing at 127.6-130.6 million VND per tael.

In the international market, gold prices in the early hours of September 18th surged past $3,700 per ounce but then abruptly reversed, plummeting by over $50 per ounce.

By 8:00 AM on September 18th (Vietnam time), spot gold was at $3,664.5 per ounce, down about $36 per ounce from the recently set record high.

Gold fluctuated after the U.S. Federal Reserve (Fed) decided to lower interest rates to 4.00%–4.25% during yesterday’s meeting and signaled further cuts through the end of the year and into 2026.

The Fed’s rate cut, as expected, boosted gold demand, pushing the precious metal to a record high of $3,708 per ounce. Generally, gold becomes more attractive when interest rates fall, as lower yields reduce the opportunity cost of holding this non-interest-bearing asset.

However, shortly after, profit-taking by investors caused gold prices to plummet. Additionally, the market began reacting to comments from Fed Chair Jerome Powell. Powell stated that the Fed is in a “meeting-by-meeting” stance regarding interest rate prospects.

According to Reuters, Tai Wong, an independent metal trader, noted: “The Fed is signaling uncertainty as Powell describes this as a ‘risk management’ cut, which has triggered understandable profit-taking. A pullback or at least sideways consolidation is healthy; I don’t expect a deep correction. Unless prices fall below the key technical support level of $3,550, the short-term uptrend remains intact,” he added. This is the Fed’s first rate cut this year, following a pause in policy adjustments since December, after three cuts in 2024.