HÀ NỘI — Domestic gold prices dropped significantly in line with the global market earlier this morning. SJC gold bars fell to around VNĐ119 million per tael, while plain gold rings dropped to a low of VNĐ115 million per tael (1.33333 ounce).

In HCM City, the Saigon Jewelry Company (SJC) listed SJC gold bar prices at VNĐ117.2 million (buying) and VNĐ119.2 million (selling), a sharp decline of VNĐ2.8 million per tael compared to early yesterday morning.

Other gold trading enterprises also made steep adjustments, bringing SJC gold prices down to VNĐ119.2 million per tael.

Gold ring prices also fell as major brands listed gold rings in the VNĐ112.5–116 million range. As prices tumbled, jewellery shops widened the buying–selling spread for gold rings to between VNĐ2.5 and 3 million per tael.

The sharp drop in domestic gold prices came as global gold prices plunged to US$3,239/ounce—an $86 decline compared to yesterday morning. This global rate equals approximately VNĐ103 million per tael, meaning SJC gold bars are still priced about VNĐ16 million higher than the international gold price.

Despite the significant drop, SJC gold bars remain approximately VNĐ16 million per tael above global gold rates. — VNS