Gold Prices Surge by Over 2 Million VND on November 25th
On November 25, gold prices experienced a significant increase, with jewelers raising prices by over 2.5 million VND. This surge brought the price of gold to nearly 153 million VND per tael.
Current Gold Prices in Vietnam
As of the morning of November 25, the Saigon Jewelry Company (SJC) listed gold prices ranging from 150.9 million to 152.9 million VND per tael, marking an increase of 2.5 million VND from the previous day. The difference between buying and selling prices remains stable at 2 million VND.
Other Jewelers’ Pricing
- Doji and PNJ reported similar prices to SJC.
- Bảo Tín Minh Châu’s buying price is 500,000 VND higher, at approximately 151.4 to 152.9 million VND.
- SJC raised the price of plain gold rings by 2.5 million VND, placing them between 148.5 and 151 million VND.
- PNJ and Doji listed these rings at 148.7 to 151.7 million VND.
- Bảo Tín Minh Châu offered the highest prices for plain round rings, at 249.9 to 152.9 million VND.
International Gold Price Trends
The rise in domestic gold prices aligns with fluctuations in international markets. On November 24, the global gold price increased by 70 USD, reaching 4,134 USD per ounce. On the morning of November 25, prices climbed further, hitting 4,146 USD at one point.
According to the Vietcombank exchange rate, this equates to approximately 131.9 million VND per tael internationally, showing a difference of 21 million VND compared to local prices.
Market Influences
The positive outlook in the market is fueled by investor expectations regarding potential interest rate cuts by the U.S. Federal Reserve in the coming month. Additionally, the domestic silver market also witnessed price increases.
- Phú Quý’s buying and selling price for silver ranged from 1.96 to 2.03 million VND per tael, up 3% from the previous day.
- Sacombank-SBJ listed silver prices between 1.95 and 2.01 million VND.
The continued interest in precious metals reflects broader economic sentiments and investor behaviors in response to shifting financial policies.
