As of 4:10 PM, SJC, PNJ, and Doji companies uniformly listed the buying and selling prices of SJC gold bars at 151.5 – 152.5 million VND per tael. Compared to the morning peak, the price of SJC gold bars at these gold shops decreased by 2.1 million VND per tael in both trading directions.
Bao Tin Minh Chau also reduced the price of gold bars by 2.1 million VND per tael, now trading at 152 – 152.5 million VND per tael.
Gold ring prices at these retailers also saw a sharp decline of 1 – 2.1 million VND per tael compared to this morning’s peak.
Specifically, SJC’s gold ring prices are trading at 149.6 – 151.8 million VND per tael, a 1.5 million VND decrease from the morning.
PNJ reduced prices by 2 million VND per tael, listing at 149.5 – 152.4 million VND per tael; DOJI cut buying prices by 1.7 million VND and selling prices by 2.1 million VND, now trading at 149.8 – 152.4 million VND per tael.
Bao Tin Minh Chau’s gold ring prices dropped by 1 million VND in both directions, now at 156.5 – 159.5 million VND per tael.
Source: Bao Tin Minh Chau
Despite cooling significantly from the morning peak, SJC gold bar prices remain 1 million VND per tael higher than yesterday’s close, while gold ring prices are up 0.8 – 1.6 million VND per tael.
In the international market, global gold prices plunged sharply this afternoon. At 4:25 PM, spot gold prices stood at $4,265 per ounce, down over 2% from yesterday’s close.
Earlier, global gold prices surged nearly 2.4% on Monday (October 20), reaching a record closing high of $4,356 per ounce.
Gold Bar Prices Surge on October 20th
Global gold prices rebounded after a slight dip earlier on October 20th. Domestically, SJC gold bar prices surged by 500,000 to 1,500,000 VND per tael compared to last weekend’s closing rates.
SJC Gold Bar Prices Plummet by 11 Million VND per Tael in the Open Market
The price of SJC gold bars at major enterprises and banks is approximately 15 million VND per tael lower than the free market rate.
Gold Prices Surge Beyond Expectations: Experts Urge Caution for Investors
Domestic gold prices surge to nearly 160 million VND per tael, surpassing all forecasts. Experts advise caution, urging individuals to avoid herd mentality; gold should constitute no more than 5% of total investment portfolios, serving as a long-term defensive asset.
Black Market Gold Prices Skyrocket to 170 Million VND per Tael
This morning (October 17th), SJC gold bars and gold rings surged to new record highs. Astonishingly, in the “black market,” gold prices were quoted by some as high as 170 million VND per tael.
Unlocking Gold Trading Floors to Stabilize the Market
Many economists believe that establishing a national gold trading platform is a key solution to stabilizing the gold market.
