HCMC – Domestic gold prices reversed course in the morning session of January 22, falling by VND1–1.8 million per tael in line with global trends, with SJC-branded gold trading at VND168.7 million per tael.
At the opening of the morning session, the local gold market cooled after surging to a record high of VND170.7 million per tael on the afternoon of January 21.
At around 9:10 a.m., Saigon Jewelry Company (SJC), DOJI, and Phu Quy Jewelry quoted SJC gold bars at VND166.7 million per tael for buying and VND168.7 million for selling, down VND1.8 million per tael from the January 21 close. Phu Quy listed SJC gold at VND166 million for buying and VND168.7 million for selling, down by VND1.3 million per tael from the previous session.
Gold ring prices also edged lower. Bao Tin Minh Chau quoted ring gold at VND166 million per tael for buying and VND169 million for selling, down VND1 million per tael compared to January 21. Meanwhile, Phu Quy listed ring gold at VND164.7 million and VND167.7 million per tael, respectively, marking a decrease of VND1.3 million per tael from the prior session.
On the global market, spot gold was trading at around US$4,802 per ounce. At current prices, global gold remains about VND16.1 million per tael lower than domestic SJC-branded gold.
Meanwhile, the State Bank of Vietnam set the central exchange rate at VND25,125 per U.S. dollar this morning, up VND1 from January 21. Exchange rates at major commercial banks also edged higher accordingly.
With the trading band of 5% on either side of the central rate, Vietcombank quoted the U.S. dollar at VND26,051–26,381 (buy/sell), while VietinBank listed VND26,068–26,381. BIDV maintained rates at VND26,081–26,381, and Eximbank posted VND26,060–26,381 per dollar.
