On the evening of October 18th, the price of SJC gold bars was adjusted downward by various gold shops, reaching 161 million VND per tael for buying and 166 million VND per tael for selling—a staggering 11 million VND drop compared to yesterday’s peak.
This dramatic decline in SJC gold bar prices on the open market contrasts sharply with the continuous surge seen in recent times. On October 17th, some retailers had pushed prices up to 177 million VND per tael.
Meanwhile, the price of SJC gold bars at companies and commercial banks also decreased but at a slower pace.
By the end of October 18th, major companies like SJC, PNJ, DOJI, and Bao Tin Minh Chau were trading gold bars at 149.5 million VND per tael for buying and 151 million VND per tael for selling—a decrease of approximately 2 million VND from the previous day.
The price of SJC gold bars at these leading enterprises was about 15 million VND per tael lower than the open market, an unusually wide gap observed in recent days.
Following the downward trend, the price of 99.99% gold rings and jewelry was traded around 148 million VND per tael for buying and 150.2 million VND per tael for selling, a drop of roughly 1.2 million VND compared to the previous day.
SJC Gold Bar Prices Plummet on the Open Market
Domestic gold prices plummeted, particularly on the open market, mirroring the global downward trend. Internationally, gold closed the week’s trading at $4,252 per ounce, a total decrease of $128 per ounce (equivalent to 4 million VND). Compared to the week’s lowest point of $4,195 per ounce, each ounce of gold lost nearly 6 million VND.
Currently, the global gold price converted at the listed exchange rate is approximately 135 million VND per tael.
Many anticipate that domestic gold prices will continue to cool down, narrowing the gap with international prices. Meanwhile, the State Bank is exploring a pilot model for a national gold trading floor, considering options such as allowing gold to be traded on the Commodity Exchange or establishing a gold trading platform within the International Financial Center in Vietnam.
SJC Gold Bar Prices on the Open Market Drop by 11 Million VND, Reaching Approximately 166 Million VND per Tael, Yet Remain Significantly Higher Than Prices at Major Companies
Afternoon of October 6th: Ring Gold Prices Surge, SJC Gold Breaks the 140 Million VND per Tael Barrier
As of the latest update on October 6th, both domestic and international gold prices continue their upward trajectory.
Gold Ring and SJC Gold Prices Continue to Decline on the Afternoon of October 2nd
The current market price for SJC gold is set at 138 million VND per tael, while gold rings are trading at 135 million VND per tael.
Gold SJC Buy Prices Vary Across Locations
This morning (September 27th), SJC gold bars were sold at 134.5 million VND per tael, with a significant disparity in buyback prices among businesses, reaching up to 1 million VND per tael. Domestic gold prices are currently nearly 15 million VND per tael higher than international rates.
The New Digital Gold Rush: Online Market Prices ‘Surpass’ Listed Enterprises
This morning (August 30th), the SJC gold bar price surged past 130 million VND per tael. Meanwhile, the price of this commodity on the online market soared to over 133 million VND per tael.
The Golden Monopoly is Over: When Will Prices Drop?
According to experts, the elimination of the gold bullion monopoly will not lead to an immediate decrease in gold prices in the short term. There will be a certain lag before prices adjust.
