Gold Prices Plummet by 1.7 Million VND per Tael on the Afternoon of November 18th

As of 6 PM, gold prices remained relatively stable compared to earlier in the afternoon but saw a significant drop from the previous day’s close.

SJC, PNJ, and Doji all listed the buying and selling prices of SJC gold bars at 147.3 – 149.3 million VND per tael, a decrease of 1.7 million VND per tael from the previous day’s close.

Meanwhile, Bao Tin Minh Chau bought and sold at 147.8 – 149.3 million VND per tael, with the buying price dropping by 200,000 VND and the selling price by 1.7 million VND compared to the previous day’s close.

For gold rings, SJC closed at 145.3 – 147.8 million VND per tael, a 1.2 million VND per tael decrease from the previous day’s close.

PNJ and DOJI listed at 146 – 149 million VND per tael, a 900,000 VND per tael drop from the previous session’s close.

Gold rings at Bao Tin Minh Chau were bought and sold at 146.8 – 149.8 million VND per tael, a 1.2 million VND per tael decrease from the previous day’s close.

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As of 3 PM, domestic gold prices continued to decline from the morning session.

Currently, SJC, PNJ, and Doji all list the buying and selling prices of SJC gold bars at 147.3 – 149.3 million VND per tael, a 500,000 VND decrease from the morning and a 1.7 million VND per tael drop from the previous day’s close.

Bao Tin Minh Chau buys and sells at 147.8 – 149.3 million VND per tael, with the buying price down by 200,000 VND and the selling price by 1.7 million VND compared to the previous day’s close.

Prices of round gold rings at gold shops also continued to fall in the afternoon session.

Specifically, SJC’s gold ring prices traded at 144.8 – 147.2 million VND per tael, a 500,000 VND decrease from the morning and a 1.7 million VND per tael drop from the previous day’s close.

PNJ and DOJI listed at 146 – 149 million VND per tael, unchanged from the morning but down 900,000 VND per tael.

Gold rings at Bao Tin Minh Chau were bought and sold at 146.5 – 149.5 million VND per tael, a 300,000 VND decrease from the morning and a 1.5 million VND per tael drop from the previous day’s close.

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As of 9:45 AM today, domestic gold prices universally dropped compared to the previous day’s close.

Currently, SJC, PNJ, and Doji all list the buying and selling prices of SJC gold bars at 147.8 – 149.8 million VND per tael, a 1.2 million VND per tael decrease from the previous day’s close.

Bao Tin Minh Chau also saw a similar decline, down to 148.3 – 149.8 million VND per tael.

Prices of round gold rings at gold shops also fell this morning.

Specifically, SJC’s gold ring prices traded at 145.3 – 147.8 million VND per tael, a 1.2 million VND per tael decrease from the previous day’s close. PNJ and DOJI listed at 146 – 149 million VND per tael, down 900,000 VND per tael. Gold rings at Bao Tin Minh Chau were bought and sold at 146.8 – 149.8 million VND per tael, a 1.2 million VND per tael drop.

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As of 7:00 AM today (November 18), domestic gold prices remained unchanged from yesterday’s close.

Currently, SJC, PNJ, and Doji all list the buying and selling prices of SJC gold bars at 149 – 151 million VND per tael. Bao Tin Minh Chau also maintained its buying and selling prices at 149.5 – 151 million VND per tael.

Prices of round gold rings at gold shops also remained unchanged from the previous session’s close.

Specifically, SJC’s gold ring prices traded at 146.5 – 149 million VND per tael. PNJ and DOJI listed at 146.9 – 149.9 million VND per tael. Gold rings at Bao Tin Minh Chau were bought and sold at 148 – 151 million VND per tael.

In the international market, global gold prices plummeted last night and early this morning. As of 7:00 AM, the international spot gold price stood at $4,031 per ounce, a 0.36% decrease from yesterday’s close. Earlier, gold prices had already fallen nearly 1% in the November 17 trading session.

Gold prices declined on Monday, pressured by a stronger dollar and reduced expectations of a U.S. rate cut next month, as investors awaited upcoming economic data that could offer clues about the Federal Reserve’s policy path.

David Meger, Director of Metal Trading at High Ridge Futures, stated, “The market is experiencing some tug-of-war volatility ahead of key economic data releases following the U.S. government’s reopening.”

“Currently, expectations for further Fed rate cuts are diminishing, which reduces optimism for gold prices.”

This week, September employment data and the minutes from the Fed’s most recent meeting, where the agency cut rates by 25 basis points, will be released.

Meanwhile, more Fed policymakers are maintaining a firm stance on rate cuts for the U.S. central bank’s December meeting.

CME’s FedWatch tool shows traders now pricing in a 45% chance of a 25-basis-point rate cut in December, down from over 60% last week.

Gold, as a safe-haven asset, tends to rise in a low-interest-rate environment since it is a non-yielding asset.