HCMC – Gold prices in Vietnam fell sharply on the afternoon of February 11, reversing earlier gains that had pushed them to record levels.
SJC gold bars, which had soared to VND93.1 million per tael in the morning, dropped by more than VND2 million per tael in the afternoon.
Major retailers, including SJC, PNJ, and Bao Tin Minh Chau, listed gold bar buying prices at VND88.7 million per tael and selling prices at VND91.2 million per tael. DOJI set its selling price at VND92 million per tael, while Mi Hong lowered its buying rate to VND90.5 million per tael.
Gold ring prices also declined in the afternoon session. Retailers quoted buying prices at VND88.5 million per tael and selling prices at VND91 million, a drop of VND700,000 from the morning session.
The declines followed a drop in global gold prices. After reaching an all-time high of US$2,940 per ounce, global prices eased to US$2,924 per ounce by early afternoon Vietnam time.
