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Domestic gold prices edged higher in the morning session on April 21, with Saigon Jewelry Inc. (SJC) quoting 168.5 million VND per tael for buying and 171.5 million VND per tael for selling. Meanwhile, the central exchange rate fell by 1 dong.
At the opening of today’s morning session, the domestic precious metals market increased by about 200,000 to 500,000 VND per tael. In contrast, the foreign exchange market saw the central rate decline by 1 dong.
As of 9:30 a.m., bullion prices at SJC, Phu Quy, and Doji Group were quoted at 168.5 million VND per tael for buying and 171.5 million VND per tael for selling. Compared with the close of trading on April 20, this represents an increase of 200,000 VND per tael.
In the bullion coin segment, prices also moved up. Bao Tin Minh Chau quoted bullion coin trading from 168.5 million to 171.5 million VND per tael (buy-sell), up 500,000 VND per tael from the previous close (April 20). Phu Quy quoted from 168.2 million to 171.2 million VND per tael (buy-sell), up 200,000 VND per tael.
This morning, the spread between buy and sell prices remained at 3 million VND per tael as gold traders hedge against price volatility.
On the international market, gold is trading around 4,807 USD per ounce. Converted using Vietcombank’s USD rate, this corresponds to about 152.6 million VND per tael. As a result, the domestic SJC price remains about 18.9 million VND per tael above the world price.
In the currency market, the State Bank of Vietnam set the central exchange rate at 25,102 dong per USD, down 1 dong from yesterday’s close (April 20).
Commercial banks also adjusted rates downward by about 1 dong. Vietcombank quoted 26,097-26,357 dong/USD (buy-sell); VietinBank 26,126-26,357; BIDV 26,127-26,357; and Eximbank 26,120-26,357 (buy-sell).
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