Gold price resets 28m dong/tael threshold

Opening the trading day May 12, the domestic gold bar price increased by over 600,000 dong per tael from a day earlier to 27.85-27.9 million dong/tael (buying price) and 27.9-28 million dong/tael (selling price), marking the highest level as of last December so far.

Saigon Jewellery Co (SJC) announced SJC gold price in HCM City market at 27.9 million dong/tael (buying) and 28 million dong/tael (selling).

In Hanoi market, Phu Quy Co also listed SJC gold price at 27.89 million dong/tael and 27.98 million dong/tael respectively.

Sacombank-SBJ system also quoted the SBJ gold price at 27.87 million dong-27.91 million dong/tael (buying-selling prices).

During recent 10 days, the domestic gold price has increased by 1.3 million dong/tael, creating a new wave after a long time of unclear tendency in the gold market.

The FX rate in the free market also continued to increase on May 12 to 19,030 dong/US dollar (buying) and 19,060 dong/US dollar (selling). Thus, the buying price increased 10 dong per US dollar day on day and the selling price was up 20 dong per US dollar against the previous day.

During recent two days, the US dollar price has increased by 50 dong in the free market.

Meanwhile, Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank) quoted the FX rate at 18,990 dong/US dollar (buying) and 19,050 dong/US dollar (selling), up 10 dong/US dollar in buying price but down 10 dong/US dollar in selling price day on day.

The interbank FX rate was still retained at 18,544 dong/US dollar.

TBKTVN

Tags: vietnam gold, Vietnam gold exports, Vietnam gold market