Domestic gold price this afternoon, November 11, decreased by half a million dong.
Domestic gold price this afternoon, November 11, decreased from 100,000 VND to 300,000 VND/tael for buying price, decreased from 300,000 VND to 400,000 VND/tael for selling price.
On the afternoon of November 11, the price of gold bars and plain rings decreased by 100,000-500,000 VND per tael, while the difference between buying and selling prices widened.
At Saigon Jewelry Company (SJC), gold bars were listed at VND81.9 - 85.4 million/tael, down VND100,000 in buying price and VND400,000 in selling price compared to the weekend.
The difference between buying and selling prices is currently at 3.5 million VND/tael to reduce risks when the market fluctuates.
Four state-owned banks also listed the price of gold bars at VND85.5 million/tael, VND100,000 higher than SJC.
Similarly, DOJI gold in Hanoi and Ho Chi Minh City are both at: 81.9 million VND/tael for buying (down 100,000 VND); 85.4 million VND/tael for selling (down 400,000 VND).
PNJ gold in Hanoi and Ho Chi Minh City both decreased by 300,000 VND/tael in both directions, at: 83.1 million VND/tael for buying and 84.9 million VND/tael for selling.
SJC gold price at Bao Tin Minh Chau and Phu Quy Gold and Silver Company were both traded at 82.1 million VND/tael for buying and 85.4 million VND/tael for selling (down 200,000 VND/tael for buying, down 400,000 VND/tael for selling).
| Domestic gold price this afternoon 11/11 | ||
|---|---|---|
| Buy | Sell out | |
| SJC HCM 1-10L | 82,500 | 84,500 |
| SJC Hanoi | 82,500 | 84,500 |
| DOJI HCM | 81,900 | 85,400 |
| DOJI Hanoi | 81,900 | 85,400 |
| PNJ HCM | 81,900 | 85,400 |
| PNJ Hanoi | 81,900 | 85,400 |
| Phu Quy SJC | 82,100 | 85,400 |
| Bao Tin Minh Chau | 82,100 | 85,400 |
| Mi Hong | 82,300 | 85,000 |
| EXIMBANK | 82,000 | 85,500 |
| TPBANK GOLD | 81,900 | 85,400 |
On the same day, during a discussion in the hallway of the National Assembly, many delegates expressed interest in the issue of gold market management.
Delegate Pham Van Hoa from Dong Thap questioned the Governor of the State Bank about why the bank only sells gold but does not buy it, causing inconvenience to people who need to sell gold.
He proposed that the government consider amending Decree 24/2012/ND-CP, allowing businesses to trade in raw gold and encouraging banks to buy back gold from people.
Delegate Hoang Thi Thanh Thuy (Tay Ninh) said this is a hot issue, and the Governor clearly explained the dependence of the domestic gold market on world gold prices.
Although solutions from the State Bank have helped reduce the difference between domestic and international gold prices, they are still subject to external impacts.
Delegate Hoang Van Cuong (Hanoi) highly appreciated the efforts to manage the gold market, contributing to reducing the price difference from 15 million VND in the past to 3-5 million VND at present. He proposed to establish a gold trading floor with an effective control mechanism, helping the domestic gold market connect better with the world and reduce the hoarding of gold bars among people, promoting capital circulation.