Domestic and global gold prices narrow 45% from the peak reached on March 20

In the morning session on April 16, the gap between SJC bullion prices and world gold prices narrowed by about 14.4 million dong per tael from the peak of 32.1 million dong per tael set on March 20, equivalent to 44.98%. At 11:00, SJC bullion buying price stood at 168.5 million dong per tael and the selling price at 172.5 million dong per tael. The prices traded steadily since market open, down 1.5 million dong per tael on the buying side and 1.0 million dong per tael on the selling side from April 15. In the morning session, buying prices fell more sharply than selling prices, widening the gap between buy and sell prices. The largest gap on the market was around 4 million dong per tael. Only Mi Hong’s buy-sell gap was half that of others, at 2 million dong per tael. DOJI, PNJ, Bao Tin Minh Chau, Bao Tin Manh Hai and Phu Quy also quoted SJC bullion buy-sell prices at 168.5 million – 172.5 million dong per tael throughout the morning session. Compared with the closing price on April 15, buying prices at DOJI and Bao Tin Minh Chau fell by 1.3 million dong per tael and 300,000 dong per tael respectively; PNJ, Bao Tin Manh Hai and Phú Quý saw decreases of 1.5 million dong per tael and 1 million dong per tael. In Ho Chi Minh City, Ngọc Thẩm was the unit reporting the lowest buy-sell range for SJC bullion on the market, at 167.5-171.5 million dong per tael (buy – sell), down 2 million dong per tael and 1.5 million dong per tael. Conversely, only Mi Hong adjusted the price of SJC bullion upward in the morning session. With two consecutive upward adjustments, SJC bullion at Mi Hong rose by 500,000 dong per tael for buying and 800,000 dong per tael for selling. By 11:00, this brand quoted 170.5 million – 172.5 million dong per tael (buy – sell). In the southern region, after trading flat in the 15/4 session, Ngọc Thẩm’s bullion price in the morning session declined by 500,000 dong per tael on both sides. By 11:00, the price stood at 157 million – 161 million dong per tael (buy – sell). On the world market, as of 11:00 on April 16, the spot price of gold rose more than 0.7% from the previous day to 4,823.5 USD/oz. Domestic gold price movement moved in the opposite direction to world price. According to Vietcombank’s exchange rate (including taxes and fees), the gap between bullion price and world price is commonly about 17.66 million dong per tael. For the price of rings “4 numbers 9,” the gap ranges from 6.16 million to 17.66 million dong per tael, depending on brand.