HCMC – Domestic gold prices fell to a near four-month low on the morning of May 5, with SJC-branded gold bars down by up to VND1.3 million per tael from the previous session to around VND165 million per tael for selling, while the U.S. dollar edged down by VND1 at commercial banks.
At around 8:45 a.m., Saigon Jewelry Company (SJC) quoted SJC-branded gold bars at VND162 million per tael for buying and VND165 million for selling, down VND1.3 million from the previous close. ACB listed the metal at VND162.3 million for buying and VND165.3 million for selling, down VND700,000 per tael. Phu Quy Group also reduced its prices by VND1.3 million to VND162 million for buying and VND165 million for selling.
Gold ring prices moved lower by around VND1 million per tael. Phu Quy Group quoted gold rings at VND162 million for buying and VND165 million for selling, while SJC listed them at VND161.5 million and VND164.5 million, respectively. The spread between buying and selling prices remained around VND3 million per tael.
Globally, gold traded at around US$4,540 per ounce, up US$14 from the same time in the previous session, despite having dropped as much as US$60 overnight to a low of US$4,508 per ounce.
Domestic silver prices also declined. At 8:45 a.m., Phu Quy listed silver bars at VND2.76 million per tael for buying and VND2.84 million for selling, down 0.94% from the previous session. Ancarat quoted silver at VND2.75 million for buying and VND2.84 million for selling, down VND41,000 and VND43,000, respectively. DOJI lowered prices by VND24,000 on the buying side and VND25,000 on the selling side to VND2.75 million and VND2.86 million per tael.
Globally, silver prices were quoted at around US$72.76 per ounce at 8:50 a.m., according to Kitco.
On the same morning, the State Bank of Vietnam (SBV) set the central exchange rate at VND25,111 per U.S. dollar, down VND1 from the previous day.
At commercial banks, the U.S. dollar edged down. Vietcombank quoted the greenback at VND26,136 for buying and VND26,366 for selling, with the selling price down VND1 from the previous session. ACB kept its buying rate unchanged at VND26,160 and lowered its selling rate by VND1 to VND26,366.
