HCMC – Domestic gold prices today have strongly bounced back, driven by a rebound in global prices, according to local media.
As of 10 a.m. on November 8, Saigon Jewelry Company (SJC) raised its gold bar buying price to VND82 million per tael and its selling price to VND86.5 million per tael, up by a VND1 million rise against the previous day.
DOJI in Hanoi set their gold bar prices at similar levels to SJC’s, while Bao Tin Minh Chau offered a buying price of VND82.5 million per tael and a selling price of VND86.5 million per tael.
The price of 24K plain gold rings also rose by VND1 million to VND2 million per tael depending on brand. Currently, plain gold rings are about VND5 million per tael below the peak level reached at the end of October.
SJC listed gold rings at VND82 million per tael for buying and VND84.8 million per tael for selling, both up by VND1 million.
DOJI set their ring prices at VND83 million per tael for buying and VND84.8 million per tael for selling, up by VND2 million on the buying side and VND800,000 on the selling side.
On the global market, the price of gold for immediate delivery rose by US$47 per ounce, reaching nearly US$2,700 following a 25 basis point interest rate cut announced by the U.S. Federal Reserve. This recovery follows a US$100 decline the previous day.
