HCMC – Domestic gold prices declined sharply on the morning of March 9, with SJC-branded gold and gold rings both down VND1.9 million per tael from the March 7 close.
At 9:30 a.m., SJC-branded gold bar prices at Saigon Jewelry Company (SJC) and Phu Quy were quoted at VND180.1 million per tael for buying and VND183.1 million per tael for selling, down VND1.9 million from the close on March 7. Gold bar prices listed by Doji stood at VND179.5 million per tael for buying and VND182.5 million per tael for selling, down VND2.5 million from the close on March 7.
Gold ring prices at major firms also moved lower. At Bao Tin Minh Chau, gold ring prices were quoted at VND180.1 million per tael for buying and VND183.1 million per tael for selling, down VND1.9 million from the previous session. Similarly, Phu Quy listed gold rings at VND180.1 million per tael for buying and VND183.1 million per tael for selling, also down VND1.9 million from the close on March 7.
Globally, gold traded at around US$5,080 per ounce, down US$50 from the previous session. Converted at the exchange rate quoted by Vietcombank, the global price was equivalent to about VND161 million per tael, around VND22.1 million lower than the domestic SJC gold price.
Domestic silver prices also declined this morning. Ancarat quoted silver at a little more than VND3.03 million per tael for buying and around VND3.13 million per tael for selling, down VND131,000–VND135,000 from the close last week. Silver was quoted at about VND80.91 million per kilogram for buying and around VND83.41 million for selling, down VND3.49 million–VND3.6 million from the previous week.
At Phu Quy, silver was quoted at VND3.02 million per tael for buying and VND3.11 million per tael for selling, down VND146,000–VND151,000 from the close last week. Silver stood at over VND80.53 million per kilogram for buying and more than VND83.01 million for selling, down VND3.893 million–VND4.026 million from the previous week.
Compared with the recent peak recorded on March 2, when prices approached VND96–99 million per kilogram, the current silver price has fallen by more than VND16 million per kilogram.
On the same morning, the State Bank of Vietnam (SBV) set the central exchange rate at VND25,059 per U.S. dollar, up VND2 from the previous session on March 6.
At commercial banks, Vietcombank quoted the U.S. dollar at VND26,041 for buying and VND26,311 for selling, both up VND2 from the close on March 6. VietinBank listed the dollar at VND26,085 for buying and VND26,311 for selling, also up VND2. BIDV quoted the currency at VND26,061 for buying and VND26,311 for selling, while Eximbank listed it at VND26,020 for buying and VND26,311 for selling, both up VND2 from the previous session.
