HCMC – Domestic gold prices fell sharply on the morning of March 19, with SJC-branded gold bars dropping by up to VND4.6 million per tael from the close on March 18, while the U.S. dollar at commercial banks edged up by VND5 against the Vietnamese dong.
At 9:10 a.m., Saigon Jewelry Company (SJC), Doji, and Phu Quy listed SJC-branded gold bars at VND175.4 million per tael for buying and VND178.4 million per tael for selling, down VND4.6 million from the previous session.
Gold ring prices also declined. Bao Tin Minh Chau quoted plain gold rings at VND175.4 million per tael for buying and VND178.4 million per tael for selling, down VND3.4 million from March 18. Phu Quy listed gold rings at VND175.5 million per tael for buying and VND178.4 million per tael for selling, down VND4.1 million from the previous close.
The spread between buying and selling prices remained wide at around VND3 million per tael.
Globally, gold traded at around US$4,849 per ounce, down US$147 from the same time in the previous session. Converted at Vietcombank’s exchange rate, the global price was equivalent to about VND153.9 million per tael, roughly VND24.5 million lower than domestic SJC-branded gold bars.
Domestic silver prices declined on the morning of March 18, with 999 silver falling by up to VND110,000 per tael and silver bars dropping by nearly VND3 million per kilogram from the previous session.
At the same time, Ancarat quoted silver prices at VND2.95 million per tael for buying and VND3.04 million per tael for selling, down VND110,000 from the previous session, with a spread of VND90,000.
The company listed silver bars at VND78.74 million per kg for buying and VND81.17 million per kg for selling, down VND2.86 million and VND2.96 million, respectively, with the spread narrowing to VND2.43 million.
Globally, silver traded at around US$78.75 per ounce, down US$2.85 from the same time in the previous session.
On the same morning, the State Bank of Vietnam (SBV) set the central exchange rate at VND25,072 per U.S. dollar, up VND5 from the previous session.
At commercial banks, the U.S. dollar inched up.
Vietcombank quoted the greenback at VND26,055 for buying and VND26,325 for selling, up VND5 from March 18. VietinBank listed the dollar at VND26,117 for buying and VND26,325 for selling, also up VND5. BIDV traded the dollar at VND26,085 for buying and VND26,325 for selling, while Eximbank quoted VND26,090 for buying and VND26,325 for selling, both up VND5 from the previous session.
