Gold prices plummet

On the morning of November 24, the price of gold dropped sharply from 200,000 - 300,000 VND/tael to around 35.5 million VND/tael. The difference with world gold increased from less than 2.9 million to more than 3.2 million VND per tael.

Internet photo

Specifically, SJC Jewelry Company listed the price of gold bars at 35.40 - 35.62 million VND/tael (buy - sell), down 260 thousand for buying and 200 thousand for selling compared to the last trading session yesterday.

Bao Tin Minh Chau Jewelry Company listed the price at 35.42 - 35.53 million VND/tael, down 290 thousand VND for buying and 260 thousand VND for selling. DOJI Jewelry Group listed the price at 35.45 - 35.55 million VND/tael, down 300 thousand VND/tael.

In the world market, US economic data supporting the possibility of the Fed raising interest rates in December, along with the strong increase in stocks and the USD, caused gold prices to fall freely.

At the end of yesterday's trading session, the price of gold for December delivery fell $21.9, equivalent to 1.8%, to $1,189.3/ounce. This is the lowest level since early February.

In the Asian market, the price of gold today is around 1,185 USD/ounce, equivalent to 32.4 million VND/tael, so currently domestic gold is about 3.2 million VND/tael higher than the world price. Yesterday, the difference between domestic and international gold prices was less than 2.9 million VND/tael.

According to Cafef