Gold prices fell to 40.88 million VND per tael.
Currently, the price of gold in Vietnam is 40.88 million VND/ounce. The world gold price is at 1,394.21 USD/ounce.
(Image for illustration purposes only, source: misa.com.vn)
10:00 AM
Following the opening session this morning, the price of domestic SJC gold decreased slightly by 50,000 VND/ounce, settling at 40.88 million VND/ounce.
Specifically, SJC gold listed at Saigon Jewelry Company has a buying price of 40.48 million VND/ounce and a selling price of 40.88 million VND/ounce.
In Hanoi, SJC gold is currently trading at 40.48 – 40.90 million VND/ounce (buying price – selling price).
The spread between the buying and selling price of gold remains high at 400,000 VND/ounce.
On the world market, the price of gold increased by $5/oz to $1,394.21/oz, equivalent to VND 35.30 million/ounce according to the Vietcombank exchange rate. The difference between world gold prices and domestic gold prices is currently VND 5.58 million/ounce.
8:00 AM
This morning (May 24th), at the opening of trading, the price of gold in Vietnam increased by 80,000 VND/ounce compared to the closing price of yesterday's session.
Specifically, SJC gold listed at Saigon Jewelry Company has a buying price of 40.53 million VND/ounce and a selling price of 40.93 million VND/ounce.
In Hanoi, SJC gold is currently trading at 40.53 – 40.95 million VND/ounce (buying price – selling price).
Currently, the spread between buying and selling prices has also increased sharply to 400,000 VND/ounce.
On the world market, the price of gold rose to $1,389.35/oz, equivalent to VND 35.17 million/ounce according to the Vietcombank exchange rate. The difference between world gold prices and domestic gold prices is currently VND 5.76 million/ounce.
On the Comex exchange, the spot gold price in the Asian market closed yesterday up $22.50/oz at $1,392.75/oz. Gold futures for June delivery also ended the session up $23.30/oz at $1,390.70/oz.
The global gold market gained momentum after more optimistic US economic data was released yesterday morning. Compared to some other raw materials, precious metals are increasingly viewed by investors as a safe-haven asset.
Japanese stocks fell 7% yesterday as the Japanese yen strengthened following losses in US stocks on Wednesday. Chinese economic data was less encouraging, with manufacturing figures released on Thursday showing a larger-than-expected decline.
According to preliminary data from HSBC, China's PMI fell to 49.6 in May, its lowest level in seven months. In fact, demand for commodities in China has decreased, while demand for precious metals has increased, indicating positive signs for the world's second-largest gold consumer market.
Economic data from the EU released yesterday showed weaker-than-expected performance. A member of the European Central Bank's Governing Council stated that, in the immediate future, there is no sign of improvement for the EU economy.
According to (vov.vn) - LT
