Domestic gold prices plummet along with world prices, SJC gold bars fall far from 150 million VND/tael.
On the morning of June 19, domestic gold prices simultaneously plummeted following international market movements. SJC Gold and Gemstone Company and many gold trading businesses adjusted SJC gold bar prices down to 144.8 million VND/tael for buying and 147.8 million VND/tael for selling, a decrease of up to 3.5 million VND/tael compared to the previous day.
The prices of gold rings and 99.99% gold jewelry also dropped sharply, falling to about 144.7 million VND/tael for buying and 147.7 million VND/tael for selling, losing 3.4 million VND/tael.
Some other businesses also made deep cuts. At Mi Hong (HCMC), SJC gold bars and rings were listed at 145 million VND/tael for buying and 147 million VND/tael for selling.
Domestic gold prices declined in line with the downward trend of the international market. As of around 9:00 AM (Vietnam time), spot gold stood at $4,186/ounce, dropping about $133/ounce in just one trading day, almost wiping out the gains of previous sessions.
SJC gold bar and ring prices plummet
According to analysts, market sentiment is shifting from concerns about economic recession to monitoring the strength of the USD and the prospect of maintaining high interest rates. This increases the opportunity cost of holding gold—a non-yielding asset—putting strong selling pressure on the precious metal.
Notably, gold prices fell despite oil prices not fluctuating significantly. Brent crude is currently trading around $79.3/barrel, down about 0.68% from the previous session.
Meanwhile, the USD continued to strengthen as the DXY index rose to 100.8 points, the highest level since mid-March. A stronger USD along with high U.S. government bond yields are pushing capital flows away from gold.
Many experts believe that in the short term, gold prices will find it difficult to regain upward momentum unless the USD cools down or new supporting factors emerge.
Mr. Ole Hansen, Head of Commodity Strategy at Saxo Bank, said that after last week's sell-off, the gold market remains quite fragile.
According to him, gold is currently trading below the 200-day moving average (MA200), making many investors cautious about new long positions. "If gold can hold the $4,000/ounce level, the market outlook will be more positive in the coming period. Conversely, downside risks remain," Mr. Ole Hansen commented.
Date: June 19, 2026 10:56 AM (GMT+7)
By Thái Phương - Source: Người Lao Động
