Domestic gold prices are 1.9 million VND higher than world prices.

This morning (October 12), the price of gold in Vietnam increased by nearly 100,000 VND/ounce compared to the end of yesterday afternoon, and after two consecutive days of increases, the price of gold in Vietnam is now far ahead of the converted world price by nearly 1.9 million VND/ounce.

At 11:00 AM, the price of SJC gold was trading in the range of 43.50-43.82 million VND/ounce.

The price of Thang Long Dragon gold from Bao Tin Minh Chau also fluctuates between 43.75-44.00 million VND/ounce (buying/selling price).

Meanwhile, the price of gold on the world market has fallen by $18 per ounce compared to yesterday morning, from $1,684 to $1,666 per ounce.

At this price, after converting according to the foreign exchange rates of commercial banks, the world gold price is equivalent to 42 million VND/ounce, which is nearly 1.9 million VND/ounce cheaper than the domestic gold price.

Previously, thanks to market intervention through gold sales by some commercial banks in conjunction with the Saigon Jewelry Company (SJC), after 5 days (from October 5th), the domestic gold price decreased by nearly 2 million VND/ounce and narrowed the price difference with the world price to about 1.3 million VND/ounce (on October 10th).

However, on October 11th, the price of gold in Vietnam unexpectedly increased by nearly 500,000 VND/ounce, further widening the gap between domestic and international gold prices.

Meanwhile, in the domestic foreign exchange market, the average interbank exchange rate on October 12th remained unchanged at 20,668 VND/USD.

This morning, commercial banks maintained the selling price of USD at the ceiling of 20,875 VND, while the buying price fluctuated between 20,853 and 20,870 VND/USD.

According to Vietnam+