Gold ring price continues to fall sharply

This morning (November 15), domestic gold prices continued to fall sharply following world prices. Ring gold prices fell from VND500,000 to over VND1 million/tael to VND81 - 82 million/tael, depending on the gold brand.

Doji Group listed round ring price 79.8 - 82.1 million VND/tael, down 1.1 million VND/tael compared to yesterday morning.

Bao Tin Minh Chau listed company gold price Ring 80.12 - 82.22 million VND/tael buy - sell, down 960,000 VND.

Phu Quy Gold Company listed price gold ring 80.1 - 82.1 million VND/tael, down 1.1 million VND/tael.

The price of gold rings decreased sharply and faster than SJC gold bars.

Saigon Jewelry Company listed the lowest price of gold rings in the market at 79 - 81.7 million VND/tael, down 500,000 VND/tael.

The price of gold rings continues to decrease sharply and faster than SJC gold bars.

Price SJC gold bars The price of SJC gold bars has also been reduced by half a million VND/tael by businesses to 83.5 million VND/tael. Compared to 2 weeks ago, the price of SJC gold bars has decreased by 6.5 million VND/tael.

At the same time, the price of gold world listed at 2,566 USD/ounce, down 6 USD/ounce compared to yesterday morning.

In the currency market, this morning, Bank The state listed the exchange rate at 24,290 VND/USD, up 2 USD compared to yesterday morning. Central rate started to inch up in recent weeks. Since the beginning of October, the central rate has increased by about 197 VND.

The USD price at commercial banks also set a new peak, surpassing the peak set in April 2024. Accordingly, Vietcombank listed the USD buying price at VND25,184 and the selling price at VND25,504, an increase of VND2 per USD.

This is also the USD transaction price at a series of other banks such as BIDV, Eximbank, Sacombank, ACB. Notably, the selling price of 25,504 VND/USD is the maximum price of 5% allowed by the State Bank.

If calculated from the beginning of October until now, the price USD in banks increased by about 2.9%.

In the free market, the USD price at foreign exchange points is 25,540 VND/USD to buy and 25,640 VND/USD to sell, about 140 VND higher than the USD price in banks. This is an insignificant difference.

In April, the USD price in banks increased rapidly, at one point almost reaching 25,000 VND, while the USD price in the free market at that time exceeded 26,000 VND. The current developments show that the pressure on the free market of the exchange rate is not much.

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