The price of gold bars fell by VND1.5 million per tael to VND87.5 million following a tumble in the price of the precious metal in the global market after the results of the United States presidential race were announced.
The domestic gold price continued to rise sharply on October 22 morning, of which SJC-branded gold price increased by VND1 million (US$39.4) per tael to VND89 million (US$3,502) per tael for selling.
Gold prices in the domestic market bounced back on August 2, reaching nearly VND80 million per tael, up VND800,000 compared to the previous day, while gold prices fell slightly in the world market.
After remaining at VND80 million per tael for four days, SJC gold prices dropped by VND500,000 per tael to VND79.5 million per tael on the morning of July 23.
After standing still for 45 consecutive days, the opening session on the morning of July 18 saw Saigon Jewelry Company (SJC) gold bar prices rebound, reaching VND80 million per tael.
The price of SJC-branded gold bars in the domestic market has remained stable despite the rising global gold price recorded over the past couple of weeks.
On the morning of June 1, SJC gold prices continued to decline, dropping by an additional VND2 million per tael as many businesses listed selling prices below VND85 million per tael.
The price of SJC gold continued to drop, trading below VND81 million (US$3,171) per tael on Monday morning, narrowing the gap between domestic and international gold prices of VND10.3 million (US$403) per tael.
On the afternoon of June 4, the State Bank of Vietnam (SBV) reiterated its caution to the public regarding gold trading activities amidst the current volatility in the bullion market.
As of 1 p.m. in Ho Chi Minh City, the selling price of SJC gold at four State-owned commercial banks was listed at VND77.98 million per tael, down VND1 million per tael compared to yesterday.
At approximately 10:15 a.m., the selling price of SJC gold bars at the four State-owned commercial banks was listed at VND76.98 million per tael, down by VND1 million per tael from the previous day.
The price of gold bars rose sharply in Vietnam on May 10 morning, hitting a new all-time high of VND91.80 million per tael without signs of stopping in the near future.
