HCMC – Domestic gold prices were unchanged on the morning of January 17, even as global gold edged lower to below US$4,600 per ounce after recent record highs.
At Saigon Jewelry Company (SJC), SJC-branded gold bar prices stayed flat at VND160.8 million per tael for buying and VND162.8 million per tael for selling. Gold bars have hovered at nearly VND163 million per tael for the past two days.
Gold ring prices also showed no movement. SJC continued to quote its gold rings at VND157.2 million per tael for buying and VND159.7 million for selling. Phu Nhuan Jewelry Company (PNJ) listed its gold rings at VND158 million for buying and VND161 million for selling, while Bao Tin Minh Chau quoted buying prices at VND159.8 million and selling prices at VND162.8 million per tael. The buying-selling spread for gold rings at many firms stayed at around VND3 million per tael, resulting in an immediate loss for buyers.
On the global market, gold slipped slightly in the weekend session, falling US$5 from the previous day to US$4,596 per ounce. Analysts said the mild decline was mainly due to profit-taking after a string of recent record peaks.
Meanwhile, domestic U.S. dollar prices at banks were largely unchanged, while the greenback weakened sharply on the free market.
Vietcombank kept its dollar buying price at VND26,057-26,087 and its selling price at VND26,387. ACB also kept its prices firm, buying at VND26,060-26,090 and selling at VND26,387. VietinBank cut its buying rate by VND150 to VND25,915, while leaving the selling rate unchanged at VND26,387 per dollar.
