HCMC – Domestic gold prices edged up by VND300,000 per tael on October 24, even as global prices fell slightly. The gap between local and international gold prices remained wide, while the exchange rate stayed stable.
Saigon Jewelry Company (SJC) and Doji listed their gold bar prices at VND147.8 million for buying and VND149.8 million for selling, up VND300,000 on both sides. Following suit, Phu Quy Jewelry quoted prices at VND147.3 million for buying and VND149.8 million for selling per tael.
Local gold ring prices also climbed. Phu Quy raised its prices by VND300,000 per tael, listing them at VND146.8 million for buying and VND149.8 million for selling. Meanwhile, Bao Tin Minh Chau lowered its ring gold prices by VND200,000 to VND150.3 million for buying and VND153.3 million for selling.
The buy-sell spread this morning stood at around VND2–2.5 million per tael for SJC-branded gold bars and VND3 million for ring gold.
In contrast, global gold prices dipped by US$5 per ounce to around US$4,118, equivalent to roughly VND130.8 million per tael based on Vietcombank’s exchange rate. Domestic SJC gold thus stays at around VND19 million per tael higher than global prices.
The State Bank of Vietnam this morning set the central exchange rate at VND25,098 per U.S. dollar, unchanged from October 23. Commercial banks also kept their rates steady, with most quoting the greenback at around VND26,352 on the selling side.
Within the trading band of 5% on either side of the central exchange rate, Vietcombank listed the U.S. dollar at VND26,122–26,352 (buy/sell), VietinBank at VND26,126–26,352, BIDV at VND26,152–26,352, and Eximbank at VND26,110–26,352 per dollar.
