Gold prices fell again by 90,000 VND on the first day of the month.
On the first trading day of August (August 1st), domestic gold prices reversed course and fell by 90,000 VND/ounce compared to the previous day's closing price, dropping close to 42 million VND/ounce.
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At 9:00 AM, the buying price of SJC gold in Hanoi was 41.92 million VND/ounce and the selling price was 42.00 million VND/ounce.
Many commercial banks also adjusted the price of SJC gold, with banks such as DongABank, Sacombank, and Eximbank all listing selling prices below 42 million VND/ounce and buying prices around 41.94 million VND/ounce.
The price of Thang Long Dragon gold from Bao Tin Minh Chau company decreased by 50,000 VND/ounce compared to yesterday, currently trading at 40.45-40.75 million VND/ounce.
Thus, over the past three trading days, the downward trend in domestic gold prices has remained dominant, and the spread between buying and selling prices is narrowing at many companies. Specifically, SJC Hanoi's spread is now only 80,000 VND/ounce, while commercial banks' spread is 60,000 VND/ounce.
Globally, the price of gold for August delivery on the Comex exchange in New York fell by $9.2 per ounce compared to the previous session, to $1,610.5 per ounce. The spot price of gold on the Kitco exchange also decreased by 0.4% to $1,614 per ounce.
In yesterday's trading session, the world's largest gold exchange-traded fund, SPDR Gold, unexpectedly bought 3,319 tons of gold, after consecutively selling nearly 3 tons at the end of July, bringing the fund's gold holdings to a new level of 1,251.92 tons.
On the domestic foreign exchange market, the average interbank exchange rate on August 1st remained unchanged at 20,828 VND/USD, the same as at the beginning of the year. The ceiling exchange rate for commercial banks was 21,036 VND/USD.
This morning, the selling price of USD at commercial banks was listed below 20,900 VND/USD, while the buying price ranged from 20,830-20,850 VND/USD.
Specifically, Vietcombank listed the exchange rate at 20,850-20,885 VND/USD; Eximbank listed it at 20,830-20,890 VND/USD; and BIDV bought at 20,830 VND/USD and sold at 20,890 VND/USD.
At current prices, after conversion, the world gold price is equivalent to 40.65 million VND/ounce, which is still more than 1.3 million VND/ounce lower than the SJC gold price.
According to (VNA) - LT
