On the morning of June 8, Saigon Jewelry Company (SJC) listed the price of gold bars at 145.6 – 149.6 million VND per tael, down 600,000 VND from last weekend. The spread between the buying and selling price of gold bars has been widened to 4 million VND per tael.
Plain gold rings also fell by a similar margin this morning. SJC cut its buying and selling prices for plain rings to 145.4 – 149.4 million VND per tael. PNJ and DOJI both traded plain rings at 145.6 – 149.6 million VND per tael.
As a result, the price of gold bars is now about 20% below the peak of 191 million VND per tael set in early March. At the same time, year-to-date gains have been erased, and domestic gold is currently 3 million VND per tael lower than at the start of the year.
Domestic gold has fallen faster than the international market, narrowing the gap between the two markets significantly over the past two months.
On the international market, gold was trading around 4,317 USD per ounce at the same time, which, when converted using Vietcombank’s selling rate, is equivalent to about 137.3 million VND per tael, or 12.3 million VND lower than the domestic price.
Silver bullion and bars have also eased slightly, trading around 2.5 – 2.6 million VND per tael, equivalent to roughly 68 – 70 million VND per kilogram. Specifically, Phu Quy and DOJI quoted silver at about 2.56 – 2.64 million VND per tael, while Sacombank – SBJ listed silver at 1.59 – 2.68 million VND. Compared with the peak set at the end of January, silver is about 40% lower.
In the foreign exchange market, Vietcombank is buying and selling USD at around 26,097 – 26,407 VND, only about 0.1% higher than the beginning of the year. Meanwhile, the black-market US dollar is trading around 26,400 – 26,420 VND.
Quỳnh Trang
Leave a Reply