Domestic
gold prices rose in line with the global gold market this morning, with SJC gold bars quoted at 164 million VND per tael for buying and 167 million VND per tael for selling. The SJC price range for gold bars at Saigon Jewelry Joint Stock Company (SJC), Phu Quy, and Doji was 164 million VND per tael (buy) and 167 million VND per tael (sell), up 1.8 million VND per tael from the close yesterday (May 11).
In the bullion segment, Bao Tin Minh Chau traded around 164-167 million VND per tael, also up 1.8 million VND per tael from the May 11 close. Phu Quy quoted prices from 163.6 million to 166.6 million per tael (buy-sell), up 1.6 million per tael from May 11.
During the morning, the spread between buy and sell prices remained at 3 million VND per tael across the trading houses.
On the international market, the precious metal was trading around 4,734 USD per ounce, up about 50 USD per ounce from yesterday. Converting at Vietcombank's USD rate, this equates to roughly 150.4 million VND per tael. Thus, the domestic SJC gold price still trades about 16.6 million VND per tael above the world price.
In the foreign exchange market, the State Bank of Vietnam set the central rate at 25,123 VND per USD, up 5 from the close on May 11. Rates at commercial banks rose by 6. Vietcombank quoted 26,099-26,379 VND/USD (buy-sell); VietinBank 26,124-26,379; BIDV 26,139-26,379; Eximbank 26,110-26,379 (buy-sell).
