Noted at 1:30 PM, major gold brands collectively slashed prices by 300,000 to 700,000 VND per tael compared to the previous session’s close. Currently, SJC, DOJI, and PNJ are trading at 152.2 – 154.2 million VND per tael. Bao Tin Minh Chau reduced prices by approximately 300,000 VND per tael, dropping to 152.7 – 154.2 million VND per tael. Mi Hong is buying and selling at 153 – 154.2 million VND per tael.
Ring gold prices at several brands also decreased by 500,000 to 700,000 VND per tael compared to the closing price. Specifically, Bao Tin Minh Chau and Bao Tin Manh Hai reduced ring gold prices by 500,000 VND per tael, down to 150.5 – 153.5 million VND per tael. SJC is currently trading at 149.5 – 152 million VND per tael (a 500,000 VND per tael decrease in both buying and selling). PNJ, DOJI, and Phu Quy maintain ring gold prices at 150 – 153 million VND per tael, with no changes in the last three sessions.
Gold prices at SJC
Noted early in the morning, gold bar prices at major brands remained unchanged. In the previous session (December 5), gold bar prices at SJC, DOJI, and PNJ surged by 1.1 million VND per tael, currently listed at 152.9 – 154.9 million VND per tael. Phu Quy and Mi Hong are buying and selling at 151.9 – 154.9 million VND per tael and 153.5 – 154.9 million VND per tael, respectively (up 1 to 1.1 million VND per tael yesterday). Bao Tin Minh Chau and Bao Tin Manh Hai also increased gold bar prices by 700,000 VND per tael on December 5, now trading at 153 – 154.5 million VND per tael and 153.1 – 154.9 million VND per tael, respectively.
Ring gold prices at Bao Tin Minh Chau and Bao Tin Manh Hai rose by approximately 700,000 VND per tael in the previous session, now at 151 – 154 million VND per tael. SJC increased ring gold prices by 600,000 VND per tael, reaching 150 – 152.5 million VND per tael. PNJ, DOJI, and Phu Quy have not changed ring gold prices in the last three sessions, maintaining them at 150 – 153 million VND per tael.
The buy-sell spread for gold bars is around 2 million VND per tael, while ring gold has a spread of up to 3 million VND per tael. Currently, domestic gold prices are approximately 20 million VND per tael higher than global prices.
Gold prices at Bao Tin Manh Hai
In the global market, gold prices rose during Friday’s session as growing expectations of a U.S. Federal Reserve (Fed) rate cut next week continued to support market sentiment, while silver surged to a record high.
According to Reuters, spot gold reached $4,212.16 per ounce but is still on track for a 0.4% weekly decline.
“The market is increasingly confident that the Fed will cut rates. In response, the U.S. dollar weakened slightly, which is beneficial for gold,” said Bart Melek, Global Head of Commodity Strategy at TD Securities.
U.S. economic data showed the Personal Consumption Expenditures (PCE) price index rose 0.3% in September, with the annual increase dropping from 2.9% to 2.8%. Earlier, private sector employment data revealed the sharpest decline in over two and a half years last month.
Comments from several Fed officials further reinforced expectations of monetary policy easing. CME’s FedWatch tool indicates an 87.2% probability of a 25 basis point cut at the December 9–10 policy meeting.
Gold is projected to trade between $4,200 and $4,500 per ounce this year and $4,500 to $5,000 per ounce next year, depending on Fed decisions, according to Alex Ebkarian, CEO of Allegiance Gold.
Meanwhile, physical gold demand in India and China decreased this week as buyers await a decline in spot prices.
Linh San
December 4th: SJC Gold and Gold Ring Prices Plummet by Up to 1 Million VND per Tael
The price of gold bars and gold rings has dropped significantly, ranging from $600 to $1,000 per tael compared to yesterday’s closing price.
Year-End Gold Price Update: SJC Ring Prices Drop, Bullion Holds Steady as of December 3rd
Gold prices on December 3rd remained relatively unchanged compared to the previous session.
End of December 2: Gold Ring Prices at Bao Tin Minh Chau Continue to Decline
Revised Introduction:
Bảo TÃn Minh Châu has once again adjusted its pricing, offering reduced rates on exquisite gold rings.
(Note: The revised text adheres to the requested format, style, and language requirements.)
Year-End Gold Rush: SJC Gold and Ring Prices Surge by 500,000 VND per Tael Since Last Week
Compared to last week’s closing price, gold bullion prices today have surged by approximately 300,000 VND per tael, while gold ring prices have climbed between 300,000 to 500,000 VND per tael.
Global Gold Prices Surge: Will Domestic Gold Prices Follow Suit on November 29th?
Last night, global gold prices surged dramatically, surpassing the $4,200 per ounce mark. This sharp increase comes amid heightened demand for safe-haven assets and growing expectations that the Federal Reserve will soon cut interest rates.
