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On the morning of April 3, domestic gold prices rose by 700,000 to 1 million dong per tael, even as the central exchange rate remained unchanged. The increase followed a sharp rise in world gold prices, which pulled up local SJC-linked quotes.
At 9:30 a.m., SJC gold prices quoted by Saigon Jewelry Joint Stock Company, Phu Quy Jewelry Co., and Doji Jewelry Co. were at 171–174.5 million dong per tael (buy/sell), up 1 million dong per tael compared with the previous session.
Ring gold prices also moved higher at the start of trading. Phu Quy’s plain ring gold was quoted at 171–174.5 million dong per tael (buy/sell), up 1 million dong per tael from the close on April 2. Bao Tin Minh Chau’s ring gold traded at 169.5–172.5 million dong per tael, up 700,000 dong per tael.
In the morning, the bid-ask spread for domestic gold remained wide, at about 3–3.5 million dong per tael.
Globally, gold traded around 4,678 USD per ounce, up 56 USD over the last 12 hours. Using Vietcombank’s USD rate, the world gold price translated to about 148.6 million dong per tael, roughly 26 million dong per tael cheaper than the domestic SJC brand.
The State Bank of Vietnam set the central exchange rate at 25,107 VND/USD for March 4, unchanged from April 2. Commercial bank USD rates were also unchanged. For example, Vietcombank posted 26,112–26,362 VND (buy/sell), VietinBank 26,142–26,362 VND, BIDV 26,142–26,362 VND, and Eximbank 26,120–26,362 VND (buy/sell).
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