HCMC – Domestic gold prices retreated this morning, October 2, after they had soared to an all-time high of VND138.4 million per tael yesterday, with Saigon Jewelry Company (SJC) gold bars now quoted at VND138 million on the selling side.
As of 9:00 a.m., SJC and DOJI quoted their gold bars at VND136 million per tael for buying and VND138 million for selling, while Phu Quy Jewelry quoted VND135.3 million and VND138 million, respectively. All three lowered their prices by VND400,000 from yesterday afternoon’s adjustment.
Gold ring prices weakened in line with gold bars. Phu Quy quoted them at VND132 million per tael for buying and VND135 million for selling, down VND1.3 million and VND300,000 from a day earlier, respectively. Bao Tin Minh Chau kept its gold ring prices unchanged at VND133 million for buying and VND136 million for selling.
The buy-sell spread remains wide, with SJC bars seeing a difference of VND2-2.5 million per tael and gold rings around VND3 million.
On the global market, spot gold retreated to around US$3,865 per ounce this morning after hitting US$3,900 yesterday. The price equals roughly VND123 million per tael when converted at Vietcombank’s exchange rate, about VND15 million lower than domestic gold prices.
At 9:00 a.m., the State Bank of Vietnam set the central exchange rate at VND25,177 per U.S. dollar, down VND10 from yesterday. Commercial banks also revised their rates lower, with the selling price commonly at VND26,435, a decrease of VND11.
Vietcombank quoted the dollar at VND26,185-26,435 (buying/selling), BIDV at VND26,235-26,435, and VietinBank at VND26,227-26,435. Eximbank kept its rate at around VND26,200-26,435.
