HCMC – Domestic gold prices were mostly flat on January 2 as major bullion firms remained closed for the New Year holiday, while gold ring prices at several companies climbed above SJC-branded gold bars amid a rebound in global gold prices.
As of the morning of January 2, SJC-branded gold bars were quoted at VND150.8 million per tael for buying and VND152.8 million per tael for selling, unchanged as Saigon Jewelry Company stayed on holiday.
By contrast, gold ring prices were higher than SJC-branded gold bars at several firms. Bao Tin Minh Hai listed its ring gold at VND152 million per tael for buying and VND155 million per tael for selling, VND2.2 million higher than SJC gold bars. Bao Tin Minh Chau quoted similar prices for its gold rings, making these two companies the highest-priced ring gold sellers in the market.
Elsewhere, DOJI Group quoted ring gold at VND149 million per tael for buying and VND152 million per tael for selling, while Phu Quy Jewelry maintained prices at VND149.8 million and VND152.8 million, respectively, unchanged from the previous session.
The bid-ask spread for ring gold stayed at around VND3 million per tael, wider than the VND2 million spread seen in SJC bullion.
On the global market, gold rebounded to around US$4,347 per ounce, up US$30 from the previous session. At this level, global gold prices are equivalent to roughly VND137–138 million per tael when converted at bank exchange rates, remaining more than VND15 million per tael lower than domestic SJC gold.
Meanwhile, the U.S. dollar on the free market edged up by VND20 on January 2 to VND27,030 for buying and VND27,150 for selling, standing about VND770 higher than bank rates. At commercial banks, Vietcombank quoted the dollar at VND26,047–26,077 for buying and VND26,377 for selling, while similar selling prices were seen at other major banks. Globally, the greenback weakened, with the U.S. Dollar Index slipping 0.15 point to 98.17.
