HCMC – Domestic gold prices surged by up to VND1.8 million per tael on November 13, reversing the previous session’s decline, while global gold hit a new record high amid growing expectations of U.S. interest rate cuts.
As of 10 a.m., Saigon Jewelry Company (SJC) and Doji listed SJC gold bar prices at VND151.3 million for buying and VND153.3 million for selling, up VND1.8 million per tael from the previous close. Phu Quy Jewelry also raised its prices by the same margin to VND150.3 million for buying and VND153.3 million for selling.
Gold ring prices followed the same trend. Bao Tin Minh Chau quoted ring gold prices at VND150.6 million for buying and VND153.6 million for selling, while Phu Quy listed prices at VND150 million and VND151 million, respectively.
On the global market, gold soared US$58 per ounce to US$4,187, equivalent to around VND133.1 million per tael based on Vietcombank’s exchange rate. Domestic SJC gold thus remained about VND20.2 million per tael higher than global prices.
The State Bank of Vietnam this morning set the central exchange rate at VND25,125 per U.S. dollar, down VND4 from November 12.
Commercial banks adjusted accordingly, trimming their rates by the same amount. For the trading band of 5% on either side of the central exchange rate, Vietcombank quoted the greenback at VND26,111–26,381 (buy/sell), VietinBank at VND26,111–26,381, BIDV at VND26,155–26,385, and Eximbank at VND26,140–26,381 per dollar.
