On the afternoon of 11/9, Saigon Jewelry Company (SJC) listed gold bars at 131.3 - 134.3 million VND per tael, a decrease of 2 million VND in the buying price and 1 million VND in the selling price. This is the second consecutive day that the price of this precious metal has cooled down.

Other brands also quoted this item at a similar price to SJC. The difference between buying and selling prices is 3 million VND per tael.

For gold rings, SJC decreased the selling price by 600,000 VND and the buying price by 900,000 VND, listing them at 126.6 - 129.6 million VND per tael. Similarly, PNJ bought and sold this type of gold at 127.3 - 130.3 million VND. Bao Tin Minh Chau quoted prices around 127.7 - 130.7 million VND.

Domestic gold prices decreased in line with developments in the international market. Accordingly, the world spot gold price today fell to 3,632 USD per ounce. Two days earlier, this precious metal hit a record high of 3,674 USD per ounce. Converted at Vietcombank's exchange rate, the world gold price is equivalent to 116 million VND per tael. The difference between domestic and international gold bar prices is more than 18 million VND per tael, cooling down compared to last week.

From 10/10, the exclusive mechanism for gold bar production will be abolished, according to Decree 232 amending Decree 24 of the Government. Instead, the State Bank of Vietnam will grant licenses to buy, sell, and trade this commodity to qualified businesses and banks. At a meeting to implement this decree on 10/9, the State Bank said it is studying the establishment of a gold exchange. They, along with ministries, branches, and localities, are inspecting and ensuring a safe gold market and preventing price fluctuations from affecting financial, monetary, and macroeconomic stability.

Domestic silver bars also decreased after reaching 1.64 million VND per tael on 9/9. Phu Quy and Ancarat both listed the item at 1.57 - 1.62 million VND per tael.

The VND/USD exchange rate in the domestic market remained stable but cooled down compared to the end of last week. The State Bank announced the central exchange rate at 25,221 VND, down 27 VND compared to the end of last week. Vietcombank listed the USD exchange rate at 26,162 - 26,482 VND, down 28 VND compared to the end of last week in the selling price. BIDV set the USD price at 26,215 - 26,482 VND. At Eximbank, the USD price is 26,170 - 26,482 VND.

Trong Hieu