Gold prices suddenly dropped across the board

At 9:30 this morning (November 1), the price of SJC gold bars decreased by half a million VND/tael to 89.5 million VND/tael, the price of gold rings also dropped deeply to 89 million VND/tael.

Saigon Jewelry Company listed gold price Rings 87 - 89 million VND/tael, down 200,000 VND/tael compared to early morning.

Bao Tin Minh Chau Company Limited listed 88.23 - 89.23 million VND/tael, down 400,000 VND/tael compared to early this morning.

Gold bar price SJC adjusted down half a million VND/tael compared to early this morning. The price of SJC gold bars was listed at 89.5 million VND/tael by the group of state-owned banks (Vietcombank, Vietinbank, BIDV, Agribank).

Enterprises listed the price of SJC gold bars at 87.5 - 89.5 million VND/tael for buying and selling.

Early in the morning of the same day, the market recorded that the price of gold rings continued to increase sharply, approaching the 90 million VND/tael mark, while the price of SJC gold remained at 90 million VND/tael.

Doji Group listed gold ring price 88.65 - 89.65 million VND/tael for buying and selling, up 50,000 VND/tael compared to yesterday morning.

Bao Tin Minh Chau Company Limited listed the price of gold rings at 88.63 - 89.63 million VND/tael, an increase of 50,000 VND/tael.

Saigon Jewelry Company listed the price of gold rings at 87.7 - 89.2 million VND/tael, an increase of 200,000 VND/tael compared to yesterday morning.

Gold ring price is at an all-time high. Meanwhile, the price SJC gold bars grouped bank State-owned banks (Vietcombank, Vietinbank, BIDV, Agribank) remain unchanged, listed at 90 million VND/tael. Enterprises listed SJC gold bar prices at 88 - 90 million VND/tael for buying and selling.

Although the price of SJC gold bars has not surpassed the peak of 92 million VND/tael (last April), this is the highest mark since State Bank intervene in prices by selling gold directly to the people through 5 designated banks.

At the same time, the price of gold world unexpectedly dropped to 2,747 USD/ounce, down 40 USD/ounce compared to yesterday morning. The world gold price is equivalent to 85 million VND/tael. Currently, the price of SJC gold bars is only about 5 million VND/tael higher than the world gold price.

On the currency market on the morning of November 1, the State Bank listed exchange rate Center at 24,242 VND/USD, down 6 VND/USD compared to yesterday morning.

Commercial banks also adjusted the USD price down to around 25,060 - 25,450 VND/USD for buying and selling.

In contrast to the decrease in USD price (listed by commercial banks), USD price on the free market continued to increase. In Hanoi, USD was traded around 25,690 - 25,810 VND/USD for buying - selling, up 16 VND/USD for buying and up 36 VND/USD for selling compared to October 31.

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