Gold continues to fall, USD remains stable.

This morning (April 4th), domestic gold prices continued their downward trend while the USD exchange rate remained stable.

Image from the Internet.

This morning, the State Bank of Vietnam announced the central exchange rate (TGTT) of the Vietnamese Dong against the US Dollar, applicable for April 4, 2016, as follows: 1 US Dollar = 21,852 VND, an increase of 2 dong compared to April 1.

At Vietcombank, the listed exchange rate is 22,260 – 22,330 VND/USD (buy – sell), an increase of 5 VND in both the buying and selling rates compared to April 1st.

ACB Bank is currently listing the exchange rate at 22,245 – 22,330 VND/USD (buy – sell), an increase of 10 VND per USD compared to the end of last week.

Vietinbank listed the USD/VND exchange rate at 22,245 – 22,325 VND/USD (buy – sell), a decrease of 2 VND in both the buying and selling rates compared to April 1st.

Some banks maintained the same exchange rates as the end of last week, such as: Eximbank listed the USD/VND exchange rate at 22,240 – 22,320 VND/USD (buy – sell). DongAbank listed the USD/VND exchange rate at 22,250 – 22,320 VND/USD (buy – sell).

In the free market, at 9:00 AM, the USD exchange rate was trading at 22,280 VND/USD for buying and 22,300 VND/USD for selling.

Regarding exchange rates, a report recently released by the Maritime Bank Economic Research Center indicates that, with the current exchange rate mechanism and especially the way it is managed, market sentiment will remain stable, expectations of a rising exchange rate will decrease, and exchange rate fluctuations will increasingly reflect the supply and demand for foreign currency and the market's valuation of VND.

The report also emphasized that the exchange rate may continue to stabilize or slightly decrease, creating favorable conditions for the State Bank of Vietnam to buy foreign currency, increase foreign exchange reserves, and create more liquidity for the VND.

Meanwhile, at the opening of trading this Monday, April 4th, the price of domestic SJC gold is at 33.25 million VND/ounce, down 20,000 VND/ounce compared to the closing price of last weekend.

The current SJC gold price in Hanoi is listed at 33,000 million VND/ounce for buying and 33,290 million VND/ounce for selling. In Ho Chi Minh City, the current SJC gold price is listed at 33,000 million VND/ounce for buying and 33,270 million VND/ounce for selling.

DOJC gold prices in Hanoi are listed at 33.150 million VND/ounce for buying and 33.210 million VND/ounce for selling. DOJC gold prices in Ho Chi Minh City are currently listed at 33.120 million VND/ounce for buying and 33.200 million VND/ounce for selling.

In Asian markets this morning, gold prices showed no clear direction. At the start of trading, prices fell by $4 to near $1,218. However, they subsequently recovered.

At 7:50 AM Hanoi time, the spot price rose back to $1,222, the same as last week's closing price.

According to the newspaper Tổ Quốc.