Domestic
gold prices continued to fall by a further 500,000 dong, dropping below 169 million dong per tael. In line with the global gold price trend, domestic prices this morning declined, with bar gold and SJC quoted at 166.2 million dong per tael for buying and 168.7 million dong per tael for selling, a drop of 500,000 dong from the close on 23 April.
In the jewelry segment, Bao Tin Minh Chau and Phú Quý quoted prices from 165.7 million dong to 168.7 million dong per tael (buying–selling), also down by 500,000 dong.
This morning, the gap between bid and ask prices among gold traders remained at 3–3.5 million dong per tael to hedge against price volatility.
On the international market, the precious metal was trading around 4,683 USD per ounce, down 20 USD per ounce from the previous day. Converted at Vietcombank's USD/VND rate, this equates to about 148.7 million dong per tael. Thus, domestic SJC gold prices remain about 20 million dong higher than the world price.
In contrast, the foreign exchange market showed a morning uptick in the central rate, with the State Bank of Vietnam posting a central rate of 25,113 dong per USD, up 8 dong from the previous close. Accordingly, rates at commercial banks were adjusted higher by 8 dong as well: Vietcombank at 26,128–26,368 dong per USD (buy/sell); VietinBank at 26,137–26,368; BIDV at 26,138–26,368; Eximbank at 26,110–26,368 (buy/sell).
