At 9:56 a.m., Doji Gold and Gemstone Group listed the price of 9999 gold rings at 83-84.8 million VND/tael (buy - sell), an increase of 200,000 VND per tael in both buying and selling compared to early this morning.

At 10:41 a.m., Doji Gold and Gemstone Group raised the price of 9999 gold rings to 83.4-85.2 million VND/tael (buy - sell).

Meanwhile, Saigon Jewelry Company (SJC) still keeps the price of gold rings of type 1-5 at only 82-84.8 million VND/tael (buy - sell).

Buy Sell
SJC 82,000,000 VND/tael 84,800,000 VND/tael
Doji 83,400,000 VND/tael 85,200,000 VND/tael

SJC and Doji gold bar price list updated at noon on November 8

Gold price movements today show that domestic gold rings were adjusted up early this morning.

At the beginning of this morning's trading session, Saigon Jewelry Company (SJC) listed the price of gold rings of type 1-5 at only 82-84.8 million VND/tael (buy - sell), an increase of 1 million VND per tael in both buying and selling compared to the end of yesterday's trading session.

Similarly, Doji Gold and Gemstone Group also raised the price of 9999 gold rings to 82.8-84.6 million VND/tael (buy - sell), an increase of 1.8 million VND per tael for buying and 800 thousand VND per tael more expensive for selling compared to yesterday's closing price.

Buy Sell
SJC 82,000,000 VND/tael 84,800,000 VND/tael
Doji 82,800,000 VND/tael 84,600,000 VND/tael

                              SJC and Doji gold ring price list updated early morning November 8

Opening the trading session on November 8 , the price of SJC 9999 gold increased by 1 million VND per tael in both buying and selling compared to the closing price of yesterday's trading session, up to 86.5 million VND/tael (selling).

The price of 9999 gold was listed by Saigon Jewelry Company Limited (SJC) at 8:34 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:33 a.m. as follows:

Buy Sell
SJC HCMC 82,000,000 VND/tael 86,500,000 VND/tael
Doji Hanoi 82,000,000 VND/tael 86,500,000 VND/tael
Doji HCMC 82,000,000 VND/tael 86,500,000 VND/tael

                  SJC and Doji gold bar price list updated early morning November 8

The central exchange rate on November 8, 2024 announced by the State Bank is 24,278 VND/USD, down 5 VND compared to the previous trading session. The USD price at commercial banks this morning (November 8) was commonly listed at 25,167 VND/USD (buy) and 25,497 VND/USD (sell).

At 8:03 a.m. today (November 8, Vietnam time) , the world spot gold price was at 2,703 USD/ounce, up 18.1 USD/ounce compared to last night. The price of gold futures for December 2024 on the Comex New York floor was at 2,710.7 USD/ounce.

On the morning of November 8 , the world gold price converted to USD bank price was over 83.8 million VND/tael, including tax and fees, about 1.7 million VND/tael lower than the domestic gold price.

Gold price on Kitco floor at 9:00 p.m. (November 7, Vietnam time) was trading at 2,684.9 USD/ounce, up 0.65% compared to the beginning of the session. Gold futures price for December 2024 delivery on Comex New York floor was trading at 2,668.6 USD/ounce.

At the beginning of the trading session on November 7 (US time), the world gold price suddenly turned to increase, after plummeting since Mr. Donald Trump was elected US President.

The US reported 221,000 unemployment claims, in line with expectations. Gold is also getting support from the Bank of England, which has just cut interest rates by another 25 basis points.

However, gold is under pressure from the increasingly strong US dollar as Republican candidate Donald Trump wins the 2024 US presidential election. Investors are betting on a recovery in the US dollar on the prospect of higher tariffs under a Trump presidency that could keep interest rates higher for longer, making gold lose its advantage.

Screenshot 2024 10 20 122522.png
World gold price suddenly increased. Photo: HH

Looking at the direction of gold in the coming time, Mr. Ole Hansen, commodity strategist at Saxo Bank, said that gold will be torn between the risk of rising inflation, which is likely to slow the pace of US interest rate cuts when tariffs are applied, and the continued demand for safe-haven assets.

Looking ahead, the big question for the gold market is whether Trump’s policies will be different from his first term, said Carsten Menke, an analyst at Julius Baer. Gold has risen 54% during Trump’s first term.

In the domestic market, at the end of the session on November 7, the price of 9999 gold bars at SJC was 81 million VND/tael (buy) and 85.5 million VND/tael (sell). Doji listed it at 81 million VND/tael (buy) and 85.5 million VND/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 81-83.8 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 81-83.8 million VND/tael (buy - sell).

Gold Price Forecast

According to analysis by experts at Germany's Commerzbank, in the short term, gold may face selling pressure to reduce risks after Mr. Trump's election. After that, the market is expected to gradually stabilize, possibly within 1 week to 10 days. At that time, money flow may gradually return to gold, especially in the context of countries around the world reducing interest rates.

Analysts say that in the long term, more money will be pumped into the economy during Mr. Trump’s term through businesses. As this money is pumped in (combined with lower interest rates), the price of gold could continue to rise. Many forecasts suggest that the price of gold could reach $3,000/ounce by 2025.

Gold price drops more than 6 million VND/day, record-breaking plunge The price of gold rings today 'evaporated' to more than 6 million VND/tael. This is the record drop in gold price in one day so far.