HCMC – Domestic gold prices soared sharply on January 28, with SJC gold bars jumping more than VND3 million per tael overnight to exceed VND180 million, marking a new all-time high amid a fresh rally in global gold prices.
Saigon Jewelry Company (SJC) raised its SJC gold bar prices by VND3.3 million per tael, quoting buying prices at VND178.1 million and selling prices at VND180.6 million per tael. At Asia Commercial Bank (ACB), gold prices rose by VND2.7 million per tael, with buying prices reaching VND177 million and selling prices VND180 million. Phu Quy Jewelry adjusted its buying prices up by VND3 million to VND177.5 million per tael, while selling prices increased by VND3.6 million to VND180.6 million.
Gold ring prices also recorded strong gains. SJC increased gold ring prices by VND3.4 million per tael, to VND177 million for buying and VND180.1 million for selling. Phu Quy lifted gold ring prices by VND3.5 million per tael, quoting buying prices at VND177 million and selling prices at VND180 million.
On the global market, gold edged up by US$8 per ounce to US$5,187, after briefly hitting a new high of US$5,202 per ounce. Over the past 30 days, gold prices have risen by around US$670 per ounce, or 15%. Compared with a year earlier, the precious metal has gained more than 89%, equivalent to nearly US$2,500 per ounce.
Silver prices in the domestic market also climbed strongly. On January 28, silver prices rose by an additional VND2 million per kilogram, bringing the total increase over the past two days to VND6 million. Silver prices hit record levels, approaching VND119 million per kilogram.
For silver measured by the tael, prices increased by VND63,000, to VND4.35 million for buying and VND4.458 million for selling. At Phu Quy, silver prices rose by 2.4%, with buying prices at VND4.285 million per tael and selling prices at VND4.418 million. For one kilogram of silver, buying prices reached VND114.266 million and selling prices VND117.813 million.
On the same morning, U.S. dollar prices at local banks fell as investors sold off the greenback on the global market. The State Bank of Vietnam (SBV) lowered the central exchange rate by VND10 to VND25,088 per dollar.
Commercial banks followed suit, cutting rates further. Vietcombank reduced its transfer buying rate by VND52 to VND25,940 and its selling rate to VND26,300. ACB cut its transfer buying rate by VND60 to VND25,950, while its selling rate fell by VND50 to VND26,310.
