May 10: Vietnam gold hovers vnd37.6mln, interbank Dollar falls vnd5

Local gold on May 10 stayed unchanged from yesterday close and hovered around VND37.6 million a tael as global gold is steady in Asia trade this morning at around $1510/ounce, the inter-bank dollar reference rate fell by VND5 to VND20,703.

As of 10:40 Hanoi time, Sacombank-SBJ gold as listed at VND37.55 million/tael and VND37.63 million/tael for bid and ask, respectively.

Bid and ask of Thang Long gold bullion, a product of Bao Tn Minh Chau were listed at VND37.5 million/tael and VND37.6 million/tael for bid and ask, respectively.

SJC in Hanoi was listed at VND37.57 million/tael and VND37.66 million/tael for bid and ask, respectively.

Compared with yesterday morning, local gold prices are up VND50,000- 90,000 but they were unchanged from the last close.

In Asia trade this morning, spot gold edged down 0.2% to $1,509.85 an ounce. COMEX gold rose by half a percent to $1,510.20.

The strength in gold prices is likely to remain, as investors stay wary of rising global inflation, the continuing euro zone debt crisis and unrest in the Middle East and North Africa, analysts said.

In local money market, the dong rose by VND5 to VND20,703 a dollar. Banks offered dollar VND250 lower than the ceiling. Vietcombank, Vietnam’s biggest dollar trader, quoted dollar prices at VND 20,560 – 20,680, respectively for bids and ask, unchanged from yesterday. – Stoxplus.com

Tags: vietnam gold, Vietnam gold market, Vietnam gold prices