Gold prices also moved lower, with the SJC-brand gold retreating to around 173.1 million VND per tael. Compared with the previous closing, SJC gold and gold jewelry prices on the morning of April 6 reversed and fell by 1.2-1.4 million VND per tael. Domestic gold prices declined in line with the global gold price trend.
In the morning of April 6, the prices of gold jewelry and SJC gold domestically fell sharply by 1.2-1.4 million VND per tael, while the central exchange rate also declined by 1 VND.
As of 9:10 am, SJC gold prices from Saigon Jewelry Joint Stock Company, Phu Quy Company, and Doji were quoted at 170.1-173.1 million VND per tael (buy/sell), down 1.4 million per tael from the close on Friday, April 3.
Similarly, the price of plain gold jewelry at various firms also moved down when markets opened; Phu Quy's plain jewelry was traded at 169.9-172.9 million VND per tael (buy/sell), down 1.2 million per tael from the close on April 3. Bao Tin Minh Chau’s jewelry was quoted at 168.1-171.1 million VND per tael, down 1.4 million per tael.
The spread between bid and ask remains wide at 3 million VND per tael.
Globally, gold traded around 4,628 USD per ounce; converted to VND using the Vietcombank USD rate, the world price equates to about 148.9 million VND per tael, about 26.2 million VND per tael lower than the domestic SJC price.
This morning, the State Bank of Vietnam posted the central rate at 25,106 VND/USD, down 1 from the end of last week.
Rates at commercial banks were adjusted accordingly, with Vietcombank posting 26,111-26,361 VND/USD, VietinBank 26,136-26,361 VND/USD, BIDV 26,141-26,361 VND/USD, and Eximbank posting 26,120-26,361 VND/USD (buy/sell), also down 1 from last week’s close.
