At 9 a.m. on 29/9, Saigon Jewelry Company (SJC) adjusted gold bar prices two times, listing them at 138,5 - 141,5 million dong per luong. This was 900,000 dong lower than yesterday's closing. Other brands made similar adjustments.
For plain gold rings, SJC also reduced prices by 900,000 dong compared to yesterday, now at 138 - 141 million dong per luong. PNJ bought and sold this item 500,000 dong higher than SJC, with listings around 138,5 - 141,5 million dong. Plain round rings at DOJI, Bao Tin Minh Chau, and Bao Tin Manh Hai traded around 138,2 - 141,2 million dong.
Domestic gold prices decreased after international prices plummeted. At the close of the 28/9 trading session, global spot gold dropped by 170 USD per ounce, reaching 4,114 USD, its lowest since 5/8. This morning, prices recovered more than 18 USD to 4,134 USD.
Converted at Vietcombank's exchange rate, global gold is equivalent to 130,5 million dong per luong. This means the domestic price is currently over 11 million dong higher than the international price, exceeding the one-three million dong difference seen at the end of August.
The market declined as crude oil prices rose, raising inflation and interest rate concerns. The USD is currently at a nearly two-month high against a basket of major currencies, making gold expensive for non-US buyers. Additionally, US government bond yields are extending their upward trend, making the precious metal less attractive due to not paying regular interest.
Domestic silver bar and ingot prices also decreased by 1% today compared to yesterday. Phu Quy bought and sold silver ingots at 2,13 - 2,21 million dong per luong, equivalent to 56,9 - 58,6 million dong per kg. DOJI traded this item around 2,17 - 2,25 million dong, while Ancarat listed it at 2,11 - 2,18 million dong.
In the foreign exchange market this morning, the State Bank of Vietnam reduced the central exchange rate to 25,630 dong, two dong lower than yesterday. USD prices at commercial banks remained stable, with Vietcombank listing it at 25,670 - 26,170 dong.
Trong Hieu
