Gold prices stable, trading quiet

After reaching the threshold of 40 million VND, the price of SJC gold bars has stabilized in recent days as demand fluctuates little.

Opening at 8:30 a.m., the price of SJC gold bars was traded by DOJI Gold and Gemstone Group at 36.53-36.73 million VND per tael, down 20,000 VND compared to the closing price at the end of yesterday in both buying and selling directions.

Domestic gold prices remained stable this week. Photo: Le Chi.

Similarly, the price of SJC gold bars listed at Phu Nhuan Jewelry Company (PNJ) in Ho Chi Minh City and Da Nang is 36.5-36.85 million VND. In the Hanoi market, the price of SJC gold bars is 36.55-36.75 million VND. In general, the domestic price of SJC gold bars has stabilized after reaching nearly 40 million VND and demand has not fluctuated as strongly as before.

In the world, the price of gold is also stable in the range of 1,328-1,320 USD. Opening the trading session this morning in the Asian market, each ounce of gold is at 1,327.5 USD. Converted to Vietnamese currency, each tael of world gold costs about 35.7 million VND - nearly one million VND lower than the domestic price.

Prices fluctuated little due to the stable dollar, plus the strong increase in global stock markets last night. Investors' concerns were eased after the coup in Türkiye was controlled by the government. Previously, last Friday, the price of gold skyrocketed immediately after the news of the coup and reached the level of more than 1,338 USD.

According to gold businesses, the weakening of domestic supply and demand combined with the world's decline has dragged this precious metal down. Gold fever has gradually faded into the past, replaced by a rather calm development at the present time. Most investors stay out to reshape the trend, the number of arising is also insignificant, mainly small retail customers.

In the foreign exchange market, the central exchange rate on July 19 was announced by the State Bank at 21,883 VND, an increase of 10 VND compared to yesterday. Meanwhile, at commercial banks, each dollar is bought and sold at 22,260-22,330 VND.

According to VNE