HCMC – Domestic gold prices were unchanged on the morning of May 8, while the U.S. dollar at commercial banks edged lower against the Vietnamese dong compared with the previous session.
At around 8:45 a.m., Saigon Jewelry Company (SJC) quoted SJC-branded gold bars at VND164.5 million per tael for buying and VND167.5 million per tael for selling, unchanged from the close on May 7. Phu Quy Jewelry also listed SJC gold bars at VND164.5 million per tael for buying and VND167.5 million per tael for selling.
Gold rings at SJC were traded at VND164 million per tael for buying and VND167 million per tael for selling, unchanged from the previous session. Meanwhile, Phu Quy raised gold ring prices by VND300,000, quoting them at VND164.3 million per tael for buying and VND167.3 million per tael for selling.
Globally, gold traded at around US$4,710 per ounce, up US$15 from the same time yesterday, marking the third consecutive session of gains in the international market. Despite the increase in global prices, domestic gold prices remained flat, leaving buyers facing losses of around VND3 million per tael due to the wide spread between buying and selling prices.
In the silver market, Phu Quy listed silver bars at VND3.025 million per tael for buying and VND3.119 million per tael for selling, down 0.32% from the previous session.
Ancarat quoted silver bars at VND2.999 million per tael for buying and VND3.092 million per tael for selling, down VND29,000 on the buying side and VND30,000 on the selling side from the previous day’s close.
DOJI also lowered silver bar prices by VND10,000 on both sides, listing them at VND3.025 million per tael for buying and VND3.119 million per tael for selling.
According to Kitco at 8:50 a.m., global silver traded at US$80.06 per ounce.
On the same morning, the State Bank of Vietnam (SBV) lowered the central exchange rate by VND1 to VND25,112 per U.S. dollar.
At commercial banks, the U.S. dollar declined. Vietcombank reduced its buying rate by VND10 to VND26,087-26,117 per dollar and its selling rate by VND1 to VND26,367. ACB cut its buying rate by VND10 to VND26,100-26,130 per dollar, while its selling rate fell by VND1 to VND26,367. VietinBank lowered its buying rate by VND23 to VND26,095 per dollar and reduced its selling rate to VND26,367.
