At noon on November 4, gold trading brands simultaneously adjusted to reduce gold bar prices. Saigon Jewelry Company (SJC) listed the price of buying and selling gold bars at 69.05 - 70.05 million VND per tael, down 300,000 VND compared to yesterday. Gold price at DOJI Jewelry Group also decreased to 69.05 - 70.05 million VND.

So this week, the price of gold bars has decreased by nearly 1 million VND per tael, equivalent to a decrease of 1.4%.

Meanwhile, gold ring prices increased slightly compared to yesterday. The price of gold rings of types 1-5 at SJC increased by 100,000 VND to 58.85 - 59.85 million VND per tael. DOJI's 9999 Hung Thinh Vuong plain round ring is traded at 58.9 - 59.85 million VND. Thang Long Dragon Gold plain round ring 59.18 - 60.13 million VND.

Gold bars fall amid rising international markets. Last night, the spot price of gold sometimes jumped to 2,003 USD before closing the weekend session at 1,992 USD per ounce, equivalent to 59.3 million VND per tael if converted at the Vietcombank exchange rate (excluding taxes and fees). Currently, this level is half a million dong lower than domestic gold rings, while gold bars are 10.7 million dong per tael.

In the foreign exchange market, bank and black market exchange rates have not fluctuated significantly recently. USD price at the bank decreased at the end of the week, down to 24,320 - 24,690 VND. On the free market, USD prices trade around 24,550 - 24,600 VND.

Quynh Trang