Afternoon of November 14: Gold Ring Prices Continue to Decline

During today’s trading session, Bao Tin Minh Chau continued to lower the price of ring gold to 149.8 – 152.8 million VND per tael, a decrease of 500,000 VND per tael compared to the morning opening. Other gold enterprises such as DOJI, SJC, and PNJ maintained their ring gold prices unchanged throughout the session.

For gold bars, all brands are currently listed at 151.2 – 153.2 million VND per tael, with no significant adjustments since the session began.

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Opening today’s session on November 14th, many gold traders significantly reduced prices for both ring gold and gold bars compared to yesterday’s close.

Specifically, Bao Tin Minh Chau priced ring gold at 150.3 – 153.3 million VND per tael, down 1.2 million VND per tael.

DOJI listed prices at 149.5 – 152.5 million VND per tael, a decrease of approximately 1 million VND per tael. SJC followed suit with a similar reduction, now pricing at 148.7 – 151.2 million VND per tael.

PNJ saw a milder reduction of 500,000 VND per tael, currently trading at 149.5 – 152.5 million VND per tael.

Gold bar prices across these brands also saw notable declines, with buying prices dropping by around 1.4 million VND per tael and selling prices by 900,000 VND per tael. Buying prices now range from 151.1 to 151.6 million VND per tael, while selling prices hover near 153.1 million VND per tael.

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This morning, Mi Hong gold shop in Ho Chi Minh City increased buying prices for both ring gold and gold bars by 300,000 VND per tael while keeping selling prices unchanged from yesterday’s close. Prices are now set at 152.5 – 154.2 million VND per tael.

Other brands maintained higher price levels without adjustments from yesterday’s close. Bao Tin Minh Chau and Bao Tin Manh Hai listed ring gold at 151.5 – 154.5 million VND per tael; PNJ at 150 – 153 million VND per tael; SJC at 149.7 – 152.2 million VND per tael; and DOJI at 150.5 – 153.5 million VND per tael.

For gold bars, buying prices at Bao Tin Minh Chau, PNJ, DOJI, and SJC range from 152.5 to 153 million VND per tael, with selling prices fixed at 154 million VND per tael.

In yesterday’s session, ring gold and gold bar prices surged by nearly 3 million VND per tael.

In the international market, spot gold is trading at $4,181 per ounce, up $11 from the previous session. The U.S. government’s resumption of operations after a 43-day shutdown—the longest in history—has eased geopolitical tensions but hasn’t dampened gold’s upward momentum. The precious metal continues its robust recovery following last month’s sell-off, with prices briefly surpassing $4,200 per ounce yesterday.

Analysts note that while geopolitical risks have temporarily subsided, the market will soon refocus on a more critical issue: the escalating U.S. national debt.

According to Nicky Shiels, Head of Metal Strategy at MKS PAM, these policies could accelerate economic stimulus measures sooner than anticipated, especially as the administration seeks to counter slowing growth and boost populism ahead of midterm elections. Tangible assets like gold and silver stand to benefit significantly in this environment.

Additionally, the U.S. Treasury faces challenges with weak demand at 10-year and 30-year bond auctions, raising concerns about debt absorption. Shiels warns that the proposed 50-year bond could pose the greatest risk, as borrowing costs over its term nearly double, making it akin to “renting from the bank” and potentially paving the way for 50-year Treasury issuances.

Amid ongoing uncertainties, Shiels believes gold and silver prices remain well-supported. The market could even witness a “Santa Claus rally” as the year-end approaches.

Meanwhile, financial experts highlight that while the Fed has resumed easing, the central bank remains cautious due to persistent inflationary pressures. Following a 25-basis-point rate cut earlier this month, Fed Chair Jerome Powell indicated that a December rate cut is uncertain.

Economists and market analysts suggest weak private-sector labor data could force the Fed to cut rates next month. The CME FedWatch tool shows a 65% probability of a rate cut.

Furthermore, physical gold demand from Asian markets during the wedding and festive seasons, coupled with high global inflation, are positive factors that could drive gold to new highs in the coming weeks.