On the morning of 20/10, Saigon Jewelry Company (SJC) listed gold bar prices at 139 - 142 million dong per tael, a decrease of 1,1 million dong from yesterday's closing. This marks the lowest price for the precious metal since 5/8, with other brands also implementing similar price adjustments.

SJC also reduced prices for plain gold rings by 1,1 million dong from yesterday, with prices currently ranging from 138,2 - 141,2 million dong per tael. PNJ was the only brand to list this item at a lower price than SJC, offering it at 138 - 141 million dong.

Bao Tin Minh Chau and Bao Tin Manh Hai traded plain gold rings at 138 - 142 million dong, while DOJI's prices were 138,5 - 142,5 million dong.

Domestic gold prices fell in line with declining international rates. At the close of trading on 19/10, global gold dropped by over 24 USD per ounce compared to last weekend, reaching 4,139 USD. This morning, the precious metal further dipped to 4,135 USD per ounce.

Converted at Vietcombank's exchange rate, global gold is valued at 130 million dong per tael. This means domestic prices are currently more than 12 million dong higher than international rates.

The market's downturn comes as investors await monetary policy signals from the US Federal Reserve's (Fed) meeting next week. A stronger USD and rising US Treasury yields also influenced gold prices.

Domestically, new regulations under Decree 390, effective from 16/10, require customers buying or selling gold with a value of 5 million dong or more in a day to use non-cash payments, a change from the prior 20 million dong limit. Furthermore, businesses that produce and process jewelry and fine art, and hold processing contracts with foreign partners, can apply for licenses to import raw gold.

Domestic silver bar prices also decreased 1,2% compared to yesterday. Phu Quy and Ancarat offered silver bars at 1,98 - 2,04 million dong per tael, equivalent to 52,8 - 54,4 million dong per kg. DOJI traded this item around 2,02 - 2,10 million dong.

Trong Hieu