December 10th: Gold Bar Prices Surge by VND 1 Million per Tael, SJC Increases Ring Gold Rates

As of the closing session on December 10, gold prices at major bullion dealers saw a collective decline, while SJC was the only company to increase the price of gold rings.

For gold bars, SJC, PNJ, DOJI, and Bao Tin Minh Chau all listed the buying and selling prices of SJC gold bars at 152.7 – 154.7 million VND per tael, a 1 million VND increase compared to the previous day’s close. Bao Tin Manh Hai saw the same increase and continued to offer higher purchase prices, trading at 152.8 – 154.7 million VND per tael.

For gold rings, SJC listed the buying and selling prices at 149.6 – 152.1 million VND per tael, an 800,000 VND increase from the previous day’s close.

PNJ and DOJI maintained their buying and selling prices at 149.5 – 152.5 million VND per tael. Gold rings at Bao Tin Minh Chau were traded at 150.5 – 153.5 million VND per tael, unchanged from the previous day’s close.

Kim Gia Bao pressed gold rings at Bao Tin Manh Hai also remained at 150.5 – 153.5 million VND per tael.

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As of 9 a.m. today, domestic gold prices rose by 500,000 – 1,000,000 VND per tael.

For gold bars, SJC, PNJ, DOJI, and Bao Tin Minh Chau all listed the buying and selling prices of SJC gold bars at 152.7 – 154.7 million VND per tael, a 1 million VND increase compared to the previous day’s close. Bao Tin Manh Hai saw the same increase and continued to offer higher purchase prices, trading at 152.8 – 153.7 million VND per tael.

For gold rings, SJC listed the buying and selling prices at 149.6 – 152.1 million VND per tael, an 800,000 VND increase from the previous day’s close.

PNJ and DOJI maintained their buying and selling prices at 149.5 – 152.5 million VND per tael. Gold rings at Bao Tin Minh Chau were traded at 151 – 154 million VND per tael, a 500,000 VND increase.

Kim Gia Bao pressed gold rings at Bao Tin Manh Hai were also traded at 151 – 154 million VND per tael, a 500,000 VND increase from the previous session’s close.

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As of early this morning (December 10), domestic gold prices remained unchanged from the previous day’s close.

For gold bars, SJC, PNJ, DOJI, and Bao Tin Minh Chau all listed the buying and selling prices of SJC gold bars at 151.7 – 153.7 million VND per tael. Bao Tin Manh Hai traded at 151.8 – 153.7 million VND per tael.

For gold rings, SJC listed the buying and selling prices at 148.8 – 151.3 million VND per tael.

PNJ and DOJI traded at 149.5 – 152.5 million VND per tael. Gold rings at Bao Tin Minh Chau were traded at 150.5 – 153.5 million VND per tael.

Kim Gia Bao pressed gold rings at Bao Tin Manh Hai were traded at 150.5 – 153.5 million VND per tael.

The buying and selling price difference for gold bars was approximately 2 million VND per tael, while gold rings differed by 2.5 – 3 million VND per tael. Currently, domestic gold prices are about 19.5 million VND per tael higher than international prices.

In the international market, the spot gold price was recorded at $4,207 per ounce early this morning, nearly unchanged from the previous day’s close. Earlier, the global gold price had risen by 0.41% in the December 9 trading session.

Gold prices edged higher as traders awaited the U.S. Federal Reserve’s monetary policy decision, expected to be announced early this morning (Vietnam time). The market will also closely monitor Fed Chair Jerome Powell’s post-meeting press conference for clarity on the central bank’s policy direction.

CME’s FedWatch tool currently indicates an 87% probability of a 0.25 percentage point rate cut at tomorrow’s meeting, reflecting broad market consensus. This dovish monetary policy stance continues to strongly support gold prices, with central banks maintaining their positions as significant net buyers. China increased its official gold reserves for the 13th consecutive month in November, adding 74.12 million ounces. This consistent accumulation by the People’s Bank of China, along with robust purchases by other central banks and strong inflows into the SPDR Gold Shares ETF (GLD), has been a key driver of gold’s remarkable 60% surge since the beginning of the year.

Global central banks’ buying activity reflects broader concerns about currency devaluation, geopolitical instability, and the strategic importance of diversifying reserves away from traditional USD-denominated assets.