Saigon Jewelry Company (SJC) listed the price at 80.6-84.1 million VND/tael (buy - sell), this figure at Phu Nhuan Jewelry Joint Stock Company (PNJ) is also 80.6-84.1.

Meanwhile, DOJI Gold and Gemstone Group announced the selling price of SJC gold bars at 80.6-84.1 million VND/tael (buy - sell), down 1.3 million VND/tael in both directions compared to yesterday's closing price.

Thus, the reduction in SJC gold bars has been raised from 5.9-6.5 million VND since the recently established "peak".

The price of gold rings also decreased and was 200 thousand VND/tael lower than SJC gold bars. At SJC, this company listed the price of gold rings at 80.5 million VND for buying and 83.1 million VND for selling. Meanwhile, PNJ Company bought gold rings at 82 million VND and sold at 83.9 million VND.

At DOJI, this unit listed the price of gold rings at 81.4-83.4 million VND/tael (buy - sell), down 1.75 million VND for buying and down 1.55 million VND for selling compared to yesterday's closing price.

Thus, the price of SJC gold bars is 3.6 million VND per tael higher than the world price, and gold rings are 2.7 million VND higher.

At 8:30 a.m., Saigon Jewelry Company (SJC) opened its doors to welcome customers. However, VietNamNet reporters recorded that there were only a dozen customers coming to transact at that time.

Customers waiting to buy gold at SJC.jpg
There were only a dozen people waiting to buy and sell gold at 8:30 this morning at SJC Company. Photo: Quoc Hai

Mr. Minh Toan (District 3) said that last Friday he decided to "go all in" on more than 5.3 million shares of 4 bank stocks, intending to use them to repair the house and shop for the end of the year. But from yesterday until this morning, seeing the price of gold drop so much, the couple discussed using that money to buy gold and wait a few weeks to see what happens.

"I hope the gold price will increase again after this sharp drop so I can make some profit," said Mr. Toan.

At Mi Hong store (Binh Thanh district), although the price of gold continues to decrease, the number of people coming to buy does not increase.

"The number of people coming to trade from morning until now is normal, not much fluctuation" - said a representative of this gold store.

Waiting for the transaction, Mr. Minh (Binh Thanh district) said he took advantage of the gold price reduction to buy some plain round rings to stock up for the wedding season at the end of the year.

Customers buy gold at Mi Hong 1.jpg
Customers transact gold at Mi Hong store on the morning of November 12. Photo: Quoc Hai

"After Christmas, my two nieces got married, so since gold was on sale, I stopped by to buy a few taels to give to them," said Mr. Minh.

When asked about the idea of ​​issuing gold certificates instead of buying and selling physical gold, whether he was willing to buy , this man shared: "Gold has long been considered an important asset for people. Now if I don't sell physical gold but sell certificates, I will consider it because I think giving it as a gift, especially on wedding occasions, will be... less classy."

In the trading session last night, Vietnam time, the world gold price dropped sharply by 48 USD/ounce, down to 2,620 USD/ounce. At one point, the gold price even dropped to 2,610 USD/ounce. The USD-Index skyrocketed to its highest level in the past 4-5 months and the increase in bond yields caused the price of this precious metal to plummet.

Each tael of gold has decreased by nearly half a million dong, the store has limited the quantity sold.

Each tael of gold has decreased by nearly half a million dong, the store has limited the quantity sold.

After remaining stable over the weekend, domestic gold prices today (November 11) continued to decrease by several hundred thousand VND per tael.
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