HCMC – Domestic gold prices surged on the morning of March 25, with SJC-branded gold bars increasing by VND4.8 million per tael from the close on March 24, while the U.S. dollar at commercial banks edged down by VND5 against the Vietnamese dong.
At 9:05 a.m., Saigon Jewelry Company (SJC), Doji, and Phu Quy quoted SJC-branded gold bars at VND172 million per tael for buying and VND175 million for selling, up VND4.8 million from the previous session.
Gold ring prices also moved higher. Bao Tin Minh Chau listed plain gold rings at VND172.5 million per tael for buying and VND175.5 million per tael for selling, up VND4.8 million. Phu Quy quoted gold rings at VND172 million and VND175 million per tael (buying/selling), also rising by VND4.8 million compared to March 24.
Gold ring prices at Bao Tin Minh Chau were VND500,000 per tael higher than SJC-branded gold bars. Meanwhile, the spread between buying and selling prices remained wide at around VND3 million per tael.
Globally, gold traded at around US$4,590 per ounce, up US$263 from the same time in the previous session. Converted at Vietcombank’s exchange rate, the global gold price was equivalent to about VND145.7 million per tael, roughly VND29 million lower than domestic SJC gold.
On the same morning, the State Bank of Vietnam (SBV) set the central exchange rate at VND25,104 per U.S. dollar, down VND5 from March 24.
At commercial banks, the U.S. dollar declined. Vietcombank quoted the greenback at VND26,109 for buying and VND26,359 for selling, down VND5 from the previous session. Eximbank listed the dollar at VND26,140 and VND26,359 (buying/selling), also down VND5. VietinBank and BIDV both quoted the currency at VND26,139 for buying and VND26,359 for selling, decreasing by VND5 from March 24.
