HCMC – SJC gold bars advanced by VND500,000 per tael this morning, July 8, to VND121 million, said local media reports.
Around 10 a.m. on July 8, marjor gold retailers such as Bao Tin Minh Chau, SJC, DOJI, and PNJ listed SJC gold bars at VND119 million per tael for buying and VND121 million for selling, up VND500,000 compared to the previous day’s close.
At Phu Quy Jewelry, gold bars were quoted at VND118.3 million per tael for buying and VND121 million for selling, a VND500,000 increase on both ends.
The buy-sell spread ranged from VND2 million to VND2.7 million per tael across retailers.
Gold ring prices also edged higher. Phu Quy Jewelry quoted plain gold rings at VND114.3 million for buying and VND117.3 million for selling, up VND400,000. Bao Tin Minh Chau raised prices for similar rings by VND500,000, quoting VND115.7–118.7 million per tael.
Other retailers followed suit. PNJ listed gold rings at VND114.3–117.3 million per tael, up VND500,000, while SJC priced 24K gold rings at VND114.4 million for buying and VND116.9 million for selling, also marking a VND500,000 spike.
Globally, gold prices hovered around US$3,334 per ounce, up US$17, according to the Vietnam News Agency. As such, global gold prices are currently around VND15 million per tael lower than domestic prices.
In a related development, the State Bank of Vietnam set the central exchange rate at VND25,121 per U.S. dollar this morning, up VND8 against the previous session.
Given the allowable trading band of 5% on either side of the central exchange rate, Vietcombank kept its exchange rate unchanged at VND25,940 for buying and VND26,330 for selling.
BIDV quoted the U.S. dollar at VND25,965-26,325, down VND5 from the previous close, while Eximbank lowered its rates by VND15 to VND25,940 for buying and VND26,320 for selling.
