HCMC – Domestic gold prices declined further on the morning of March 20, with SJC-branded gold bars dropping by VND600,000 per tael from the close on March 19, while the U.S. dollar at commercial banks rose by VND14 against the Vietnamese dong.
At 9:10 a.m., Saigon Jewelry Company (SJC), Doji and Phu Quy quoted SJC-branded gold bars at VND171.9 million per tael for buying and VND174.9 million for selling, down VND600,000 from the previous session’s close.
Gold ring prices also moved lower. Bao Tin Minh Chau listed plain gold rings at VND172 million per tael for buying and VND175 million for selling, down VND800,000. Phu Quy quoted gold rings at VND171.9 million per tael for buying and VND174.9 million for selling, down VND600,000 from March 19. The spread between buying and selling prices remained wide at around VND3 million per tael.
Silver prices, in contrast, moved higher in early trade. At 8:52 a.m., Ancarat quoted silver at VND2.769 million per tael for buying and VND2.855 million for selling, up VND146,000-151,000 per tael. Silver per kilogram was listed at VND73.84 million for buying and VND76.113 million for selling, up VND3.9-4 million from the previous session.
Phu Quy quoted silver at VND2.77 million per tael for buying and nearly VND2.86 million per tael for selling, up VND115,000-119,000. Silver per kilogram was traded at VND73.84 million for buying and VND76.11 million for selling, up VND3.1-3.15 million from March 19. Compared to its monthly peak of nearly VND99 million per kilogram, silver prices have fallen by more than VND22 million per kilogram.
Globally, gold traded at around US$4,712 per ounce, down US$27 over the previous 12 hours. The price was equivalent to roughly VND148.7 million per tael based on Vietcombank’s exchange rate, about VND25.3 million lower than domestic SJC gold bars. Meanwhile, spot silver rose to US$73.62 per ounce, up US$0.93, or 1.28%, from the previous session.
On the same morning, the State Bank of Vietnam (SBV) set the central foreign exchange rate at VND25,085 per U.S. dollar, up VND13 from the previous session.
At commercial banks, the U.S. dollar rose. Vietcombank quoted the greenback at VND26,069 for buying and VND26,339 for selling, up VND14 from March 19. VietinBank and BIDV quoted the dollar at VND26,103 for buying and VND26,339 for selling, up VND14. Eximbank quoted the currency at VND26,010 for buying and VND26,339 for selling, up VND14 from the previous close.
