Domestic gold price skyrockets, world price slightly decreases; Japanese Yen continues to decline

Domestic gold price skyrockets, world gold price slightly decreases

Today, SJC gold increased sharply by 1 million VND per tael, bringing the price closer to a new historical milestone of 88 million VND per tael, while world gold reversed and decreased slightly.

At the time of survey at 5:00 a.m. on May 8, 2024, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 85.30 million VND/tael for buying and 86.80 million VND/tael for selling.

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 85.60 - 87.00 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 85.50 - 87.40 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 85.50 - 87.60 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,313.90 USD/ounce, down 8.8 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 69.847 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 15.453 million VND/tael higher than the international gold price.

USD increased slightly

Today, USD VCB slightly decreased by 2 VND in both directions, meanwhile, the world USD slightly increased thanks to the "hawkish" comments of the FED and the weakening Yen.

The central VND/USD exchange rate announced by the State Bank is adjusted to 24,243 VND/USD, down 2 VND compared to the trading session on May 7.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,450 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank of Vietnam from 23,400 to 25,450 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of downward adjustments at banks. Specifically, Vietcombank has a buying price of 25,125 and a selling price of 25,455, down 2 VND in both buying and selling prices compared to the trading session on May 7. The current USD buying and selling prices are in the range of 24,000 - 25,500 VND/USD.

In the world market, the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 105.36 points - up 0.29% compared to the transaction on May 7.

Japanese Yen Continues to Fall

Today, the price of Japanese Yen continues to fall, the black market Yen exchange rate has not stopped falling.

Today's Japanese Yen exchange rate surveyed on the morning of May 8, 2024 at banks is as follows:

At Vietcombank, the buying rate is 159.45 VND/JPY and the selling rate is 168.76 VND/JPY, down 0.67 VND for buying and 0.71 VND for selling. At Vietinbank, the Yen rate decreased 0.58 VND for buying and selling, equivalent to 160.06 VND/JPY and 169.76 VND/JPY. At BIDV, the Japanese Yen rate decreased 0.72 VND for buying and 0.77 VND for selling, respectively reaching 159.65 VND/JPY and 168.05 VND/JPY. At Agribank, the buying and selling rates are 160.99 VND/JPY and 169.14 VND/JPY - down 0.57 VND for buying and down 0.61 VND for selling.

At Eximbank, the buying price increased by 0.68 VND and the selling price decreased by 1.43 VND, respectively at 161.67 VND/JPY and 166.73 VND/JPY.

At Techcombank, the Japanese Yen exchange rate decreased by 0.66 VND at the buying rate and decreased by 0.69 VND at the selling rate, respectively, to 157.64 VND/JPY and 170.07 VND/JPY. At Sacombank, the Japanese Yen exchange rate decreased by 0.36 VND at the buying rate and decreased by 0.37 VND at the selling rate, respectively, to 162.7 VND/JPY and 167.73 VND/JPY.

According to the survey, today Sacombank is the bank with the highest buying rate of Japanese Yen and Eximbank is the bank with the lowest selling rate among the banks.