Gold price dropped more than one million dong per tael

Morning of November 12,   gold price   Domestic plain pieces and rings are simultaneously adjusted to world developments.

Saigon Jewelry Company (SJC) listed the price of gold bars at 80.6 - 84.1 million VND, down 1.3 million VND in both buying and selling compared to yesterday.

Plain gold rings also went down. Plain rings at SJC dropped to 80.5 - 83 million VND, down 1.4 million VND in both directions. DOJI Gold and Gemstone Group dropped to 81.4 - 83.4 million VND. Phu Nhuan Jewelry Company (PNJ) also listed 82 - 83.9 million VND per tael.

Thus, compared to the peak set at the end of October, each tael of gold has decreased by 6 million VND, equivalent to a 6% adjustment. Compared to the beginning of the year, each tael of plain rings is about 32% higher, while gold bars have a 14% profit margin.

In the international market, precious metals have just continued to have the second strong correction in just the past few days. Each ounce of gold has now decreased by more than 160 USD since Mr. Donald Trump was re-elected as President of the United States.

Precious metals are under pressure in the short term as the US dollar continues to rise and investors assess Mr.   Donald Trump   The election of US President will put pressure on the country's fiscal policy and interest rates.

At the same time, the money flowing into gold also faces higher competition from the cryptocurrency channel, as Bitcoin continues to set records. Investors expect that policies under Trump will create a favorable period for this digital asset.