HCMC – Major jewelry brands have revised their buying prices for plain gold rings down by VND3-4.6 million per tael, with the buying-selling price difference widening, said local media reports.
At around 10:15 a.m. today, November 7, Saigon Jewelry Company (SJC) reduced its gold ring prices to VND83.3 million per tael for buying and VND85.1 million per tael for selling, down by VND3.1 million and VND2.8 million against yesterday’s session, respectively.
PNJ bought gold rings at VND83.9 million per tael and sold them at VND85.1 million per tael. At Bao Tin Minh Chau, the rates were capped at VND83.4-85.4 million per tael.
Domestic gold bar prices also plummeted.
At SCJ, each tael of SCJ gold bars was bought at VND84.5 million per tael and sold at VND87.5 million per tael, a sharp decline of VND2.5 million on the buying side and VND1.5 million on the selling side.
The selling price of gold bars on the market at four State-run banks also dropped to VND87.5 million per tael.
On the global market, the price of gold has fallen by US$100 per ounce in the past 24 hours following Donald Trump’s election as U.S. President.
