Gold bullion prices rebound after sharp drop yesterday

After a sharp drop of 2.5 million dong per tael on the buy side and 3.5 million dong per tael on the sell side in yesterday’s session (April 9), bullion gold buying and selling prices rose again this morning.

Prices at SJC and major brands

The bullion gold selling price remained broadly around 172.7 million dong per tael.

At the opening of the morning session, SJC increased by 1.2 million dong per tael on both sides versus the closing price on April 9, listing buy and sell prices for bullion gold at 169.7 million–172.7 million dong per tael. By 11:00, the trading range had stayed unchanged.

The gap between buy and sell prices for bullion gold at SJC across units remained high at 4 million dong per tael for three consecutive sessions (7–9/4). In this morning’s session, the gap narrowed to 3 million dong per tael, but it still indicates buyers bear risk.

The 169.7–172.7 million dong per tael range was also quoted at DOJI, PNJ, Bao Tin Minh Chau, Bao Tin Manh Hai and Phu Quy. Compared with the closing price on 9/4, buy and sell prices at DOJI, PNJ and Bao Tin Minh Chau rose by 1.2 million dong per tael on both sides.

Meanwhile, Bao Tin Manh Hai and Phu Quy saw selling prices rise by 1.2 million dong per tael, while buy prices rose by 2.2 million dong per tael and 1.4 million dong per tael, respectively.

Updates in Ho Chi Minh City and other outlets

In Ho Chi Minh City, after two consecutive increases, bullion gold at Mi Hồng rose by 700,000 dong per tael on the buy side and by 1.2 million dong per tael on the sell side. As of 11:00, this brand quoted bullion trading at 170.7–172.7 million dong per tael (buy–sell).

At Ngọc Thẩm, buy and sell prices for bullion gold were listed at 169.5–172.5 million dong per tael, up by 3 million dong per tael on buy and 2 million dong per tael on sell compared with the closing price on 9/4.

SJC “4 số 9” ring

For the SJC “4 số 9” ring, buy and sell prices were 169.2–172.2 million dong per tael at opening, up 1.2 million dong per tael on both sides since 9/4. Within nearly two hours of opening, the brand continued to rise by 200,000 dong per tael on each side, setting the price at 169.4–172.4 million dong per tael (buy–sell).

Phú Quý “4 số 9” ring

At Phú Quý, the buy and sell prices for the “4 số 9” ring increased at the open, quoted at 168.5–171.5 million dong per tael after four adjustments in the morning session. Within three hours of opening, the brand added a total of 1 million dong per tael on each side. By 11:00, Phú Quý quoted 169.5–172.5 million dong per tael (buy–sell).

Plain ring gold 9999

After rising 1.2 million dong per tael on both buy and sell sides in this morning’s session, PNJ listed the buy price for plain ring gold 9999 at 169.2 million dong and the selling price at 172.2 million dong per tael.

As of 11:00, DOJI, Bao Tin Minh Chau and Bao Tin Manh Hai were the three brands listing the highest buy/sell prices for plain ring gold “4 số 9,” staying at levels comparable to bullion prices.

As of 11:00 on April 10, DOJI listed the buy/sell price for plain ring gold 9999 (Hung Thịnh Vượng) at 169.7–172.7 million dong per tael, up 1.2 million dong per tael on both sides from 9/4.

The price of plain ring gold at Bao Tin Minh Chau and Bao Tin Manh Hai’s 9999 ring was quoted at 167.5–171.5 million dong per tael throughout the session, up 1.2 million dong per tael on each side from 9/4.

With the 1.2 million dong rise on the buy and sell sides in the morning session, PNJ quoted buy price for plain ring gold at 169.2 million and sell at 172.2 million dong per tael.

World gold market and domestic–global spread

On the world market, as of 11:00 on 10/4, spot gold futures edged up 0.02% from the previous day to 4,763.9 USD/oz.

According to Vietcombank’s exchange rate (including tax and fees), the gap between domestic bullion price and world gold prices commonly stands at 19.76 million dong per tael. For the “4 số 9” ring gold, this gap ranges from 9.56–19.76 million dong per tael, depending on brand.