Opening on the morning of November 6, Saigon Jewelry Company (SJC) listed 67 - 68.5 million VND per tael at the beginning of the morning session, down 2 million VND on the buying afternoon and 1.5 million VND on the selling afternoon compared to weekend. DOJI Jewelry Group also decreased to 66.7 - 68.2 million VND, a decrease of more than 2 million VND on the buying side and 1.8 million VND on the selling side.
At 11am, the price of gold bars reversed to go up, narrowing the decline. Both SJC and DOJI listed the purchase price at 68 - 69.5 million VND. When prices fluctuate strongly, gold trading brands also widen the buying and selling gap to hedge against risks. Currently, the difference in selling price is 1.5 million VND per tael.
Compared to the weekend, each amount of gold bars decreased by more than 1 million VND on the buying side and more than half a million VND on the selling side.
In contrast to the "wave" of gold bars, the price of gold rings does not fluctuate significantly. Gold rings of types 1-5 only at SJC are listed at 58.9 - 59.9 million VND per tael, a slight increase of 50 VND compared to the weekend. DOJI's Hung Thinh Vuong round gold ring decreased slightly by 100 VND to 58.75 - 59.75 million VND.
On the international market, the spot price of gold this morning also decreased by 8 USD an ounce, trading around 1,984 USD. If converted according to Vietcombank's selling exchange rate, the world gold price is equivalent to 58.8 million VND per tael (not including taxes and fees). Currently, the price of domestic gold bars is 10.7 million VND higher than the world price, while domestic gold rings are 1 million VND higher per tael.
The domestic exchange rate also dropped sharply this morning. At Vietcombank, the USD price decreased by 120 VND in both directions to 24,200 - 24,570 VND. At BIDV, USD price decreased by 165 VND compared to last week, listed at 24,250 - 24,550 VND. Meanwhile, the price of US dollars on the black market fluctuated insignificantly, trading around 24,530 - 24,620 VND.
Quynh Trang
