Gold prices reversed course again, falling by 20,000 VND per tael.
On the morning of May 15th, world gold prices reversed course and fell by nearly $10/ounce compared to the previous session, causing SJC gold prices to drop by approximately 20,000 VND/ounce.
Photo: Tran Viet/VNA
At 8:30 AM, the spot gold price on Kitco was fluctuating around $1,429 per ounce, while on the Comex exchange, the June gold futures contract closed yesterday down $9.8 per ounce at $1,424.5 per ounce.
Thus, compared to the opening price at the beginning of the week (May 13th), this precious metal has remained almost unchanged, mainly fluctuating around the $1,429/ounce mark.
Domestically, the price of SJC gold also adjusted downwards by about 20,000 VND per ounce due to pressure from the global market.
Specifically, the buying price of SJC gold in Ho Chi Minh City is 41.17 million VND/ounce, while the selling price is 41.32 million VND/ounce.
In the Hanoi market, the selling price of SJC gold listed at DOJI Company is also at 41.32 million VND/ounce, while the buying price is 41.22 million VND/ounce.
Yesterday, the price of this brand fluctuated throughout the day, closing at 41.34 million VND per tael.
By the end of May 14th, the State Bank of Vietnam had held 17 gold bullion auctions. Thus, since the end of March 2013, a total of 450,500 ounces of gold have been supplied to stabilize the market.
However, if converted at this time, the difference between domestic SJC gold and world gold prices remains at approximately 5.3 million VND/ounce (almost double compared to before the auction).
This morning, Bao Tin Minh Chau Company listed the price of Thang Long Dragon gold at 39.30-39.55 million VND/ounce (buying/selling price), unchanged from yesterday. Compared to SJC, this brand is also 1.65 million VND/ounce lower.
In the domestic foreign exchange market, the average interbank exchange rate applied on May 15th remained unchanged at 20,828 VND/USD, the same as at the beginning of the year. The ceiling exchange rate applied to commercial banks remained at 21,036 VND/USD.
This morning, the highest USD exchange rate at major commercial banks was 20,965 VND, while the common buying rate ranged from 20,900 to 20,915 VND per USD.
Specifically, Vietcombank listed the USD exchange rate at 20,915-20,965 VND/USD (buying/selling). Meanwhile, BIDV Bank's buying rate was 20,915 VND/USD but its selling rate was only 20,955 VND/USD.
Vietinbank is currently buying USD at 20,920 VND/USD and selling at 20,960 VND/USD, while Eximbank is quoting rates between 20,900 and 20,960 VND/USD.
According to (Vietnam+) - LT
