November 19th Afternoon: Gold Bar Prices Surge by 1.7 Million VND/Tael, Ring Gold Also Rises

As of the closing session on November 19, domestic gold prices surged by 500,000 to 1,700,000 VND per tael compared to the previous session’s close.

SJC, PNJ, and DOJI closed with SJC gold bar buy-sell prices listed at 149 – 151 million VND per tael, a 1.7 million VND increase from yesterday’s close. Bao Tin Minh Chau recorded a similar rise, trading at 149.5 – 151 million VND per tael.

For gold rings, SJC listed buy-sell prices at 146.5 – 149 million VND per tael, a 1.2 million VND increase from yesterday’s close.

PNJ and DOJI added 500,000 VND per tael from the previous day, trading at 146.5 – 149.5 million VND per tael. Bao Tin Minh Chau’s gold rings traded at 148.3 – 151.3 million VND per tael, a 1.5 million VND increase from yesterday’s close.

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In the latest update early afternoon, domestic gold prices rose by 300,000 to 600,000 VND per tael from the morning session.

SJC, PNJ, and DOJI listed SJC gold bar buy-sell prices at 149 – 151 million VND per tael, a 300,000 VND increase from the morning and 1.7 million VND from yesterday’s close. Bao Tin Minh Chau recorded a similar rise, trading at 149.5 – 151 million VND per tael.

For gold rings, SJC listed buy-sell prices at 146.5 – 149 million VND per tael, a 600,000 VND increase from the morning and 1.2 million VND from yesterday’s close.

PNJ added 500,000 VND per tael from the previous day, trading at 146.5 – 149.5 million VND per tael. Bao Tin Minh Chau’s gold rings traded at 148.3 – 151.3 million VND per tael, a 300,000 VND increase from the morning and 1.5 million VND from yesterday’s close.

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In the latest mid-morning update, domestic gold prices rebounded after falling 0.2 – 1.7 million VND in yesterday’s session.

SJC, PNJ, and DOJI listed SJC gold bar buy-sell prices at 148.7 – 150.7 million VND per tael, a 1.4 million VND increase from yesterday’s close. Bao Tin Minh Chau recorded a similar rise, trading at 149.2 – 150.7 million VND per tael.

For gold rings, SJC listed buy-sell prices at 145.9 – 148.4 million VND per tael, a 600,000 VND increase from yesterday’s close.

PNJ and DOJI maintained gold ring buy-sell prices at 146 – 149 million VND per tael. Bao Tin Minh Chau’s gold rings traded at 148 – 151 million VND per tael, a 1.2 million VND increase from yesterday’s close.

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As of 7:00 AM today (November 19), domestic gold prices remained unchanged from yesterday’s close.

SJC, PNJ, and Doji listed SJC gold bar buy-sell prices at 147.3 – 149.3 million VND per tael. Bao Tin Minh Chau traded at 147.8 – 149.3 million VND per tael.

For gold rings, SJC listed buy-sell prices at 145.3 – 147.8 million VND per tael.

PNJ and DOJI listed gold ring buy-sell prices at 146 – 149 million VND per tael. Bao Tin Minh Chau’s gold rings traded at 146.8 – 149.8 million VND per tael.

In the international market, gold prices rebounded after three consecutive sessions of decline, supported by weak US job data.

As of 7:15 AM, spot gold prices stood at $4,073 per ounce, up 0.15% from yesterday’s close. Earlier, gold prices rose 0.53% in the November 18 session.

Data released on Tuesday showed the number of Americans receiving unemployment benefits reached a two-month high in mid-October, with jobless claims rising to 1.9 million in the week ending October 18.

“The data is fueling market expectations of a December rate cut. This is supporting gold and silver, which are trying to end a three-day losing streak,” said Tai Wong, an independent metal trader.

According to CME Group’s FedWatch tool, the market now expects a nearly 50% chance of a Fed rate cut at the December 9-10 meeting, up from 46% on Tuesday but down from 67% last week.

Gold is a safe-haven asset that tends to rise in a low-interest-rate environment as it is a non-yielding asset. Gold prices fell 0.56% on Thursday, over 2% on Friday last week, and nearly 1% on Monday this week as investors scaled back expectations of another Fed rate cut this year.