HCMC – Domestic gold prices held steady on November 17, even as global gold climbed, while the U.S. dollar edged lower at commercial banks.
Asia Commercial Bank (ACB) raised SJC gold bar prices by VND500,000 per tael to VND150 million for buying and VND151.5 million for selling. Other major traders kept prices unchanged from the previous weekend, with Saigon Jewelry Company (SJC) quoting its gold bar prices at VND149 million for buying and VND151 million for selling per tael. Phu Nhuan Jewelry (PNJ) listed prices at VND149 million and VND151 million, and Phu Quy at VND148 million and VND151 million.
Similarly, gold ring prices remained unchanged after last week’s sharp decline. SJC quoted ring gold prices at VND146.5 million for buying and VND149.1 million for selling, Phu Quy at VND147.5 million and VND150.5 million, and PNJ at VND146.9 million and VND149.9 million.
The buy-sell spread for ring gold prices ranged from VND2.6–3 million per tael, higher than the VND2 million gap for gold bars.
On the international market, gold rose US$15 per ounce to US$4,100, after last week’s technical selling had sent prices lower. The precious metal struggled to sustain gains above US$4,200 as investors weighed the possibility of a U.S. Federal Reserve interest rate cut next month.
The State Bank of Vietnam this morning set the central exchange rate at VND25,120 per U.S. dollar, down VND2 from November 14. Within the trading band of 5% on either side of the central exchange rate, the ceiling rate stood at VND26,376 and the floor at VND23,864 per dollar.
At 9:30 a.m., Vietcombank and BIDV quoted the U.S. dollar at VND26,156–26,376 (buy/sell). Compared with November 14, both banks lowered their selling rates by VND2. However, buying rates moved differently, with BIDV down VND4 and Vietcombank up VND18.
