HCMC – Domestic gold prices dropped sharply on October 27 in line with global gold price falls, with SJC gold bars now selling at around VND148.9 million per tael.
As of 9 a.m., Saigon Jewelry Company (SJC) listed its gold bar prices at VND147.4 million for buying and VND148.9 million for selling, down by VND300,000 per tael from the previous session. Doji similarly quoted the yellow metal at VND147.6 million and VND148.9 million, while Phu Quy Jewelry also revised its rates to VND146.9 million and VND148.9 million, dropping by the same amount.
Gold ring prices followed suit. At Phu Quy Jewelry, ring gold was traded at VND145.9 million for buying and VND148.9 million for selling, down VND300,000. Bao Tin Minh Chau reported a steeper fall of VND500,000, at VND149.5 million and VND152.5 million per tael, higher than SJC-branded gold.
The gap between buying and selling prices of SJC gold bars has narrowed to around VND1.3–2 million per tael, while that of gold rings remains wider at VND3 million.
On the global market, gold prices slipped below the US$4,100 mark, currently hovering around US$4,081 per ounce, equivalent to about VND129.5 million per tael when converted using Vietcombank’s exchange rate. This means domestic gold prices are still around VND19 million higher than international levels.
Meanwhile, the central exchange rate was set by the State Bank of Vietnam at VND25,097 per U.S. dollar, down by one dong from October 25. Commercial banks kept their rates stable, with selling prices mostly unchanged at VND26,351 per dollar.
Within the 5% trading band on either side of the central exchange rate, at Vietcombank, the greenback was quoted at VND26,081–26,351 (buy/sell), while VietinBank and BIDV offered similar ranges. Eximbank also listed its rates at VND26,090–26,351 per dollar.
