Gold price drops by an additional one million VND per tael

Gold bar price retreats to 139 million VND this morning, while plain gold ring prices vary by four to five million VND per tael across brands.

On 24/7, Saigon Jewelry Company (SJC) listed gold bar prices at 134 - 139 million VND, marking an additional drop of one million VND per tael compared to yesterday's closing. The buy-sell spread remained at one million VND per tael.

Concurrently, DOJI Gold and Gems Group and Bao Tin Minh Chau listed gold bar prices matching SJC's. At Mi Hong, gold bar prices this morning decreased to 135 - 137,5 million VND per tael.

Plain gold rings showed price discrepancies of several million VND per tael across brands. SJC reduced its plain gold ring prices to 133 - 138 million VND per tael. Mi Hong traded plain gold rings at the same price as gold bars, 135 - 137,5 million VND. DOJI listed plain gold rings at 139 - 143,5 million VND per tael, four to five million VND higher than gold bars. Bao Tin Minh Chau's plain gold rings traded at 138,7 - 142,5 million VND.

Internationally, spot gold traded around 4,045 USD per ounce, down 100 USD from the previous session. Converted at Vietcombank's selling exchange rate, the gap between domestic and international gold bar prices this morning was nearly 10 million VND per tael.

Domestic silver bars and ingots also saw a slight 1,5% decrease this morning. Phu Quy, DOJI, and Sacombank - SBJ listed silver prices around 2,15 - 2,2 million VND per tael, equivalent to 57,3 - 59 million VND per kilogram.

In the foreign exchange market, the official USD price remained stable. This morning, Vietcombank listed the USD at 26.100 - 26.510 VND, a slight increase of 10 VND from yesterday and over 0,15% compared to the beginning of the month.

Meanwhile, the USD in the free market continued its slight downward trend, with the selling price remaining higher than bank rates. This morning, several foreign currency exchange points traded the USD around 26.330 - 26.360 VND per USD.

SJC today placed no limits on the sale of gold bars and plain gold rings. For customers selling gold, SJC stated it would endeavor to arrange same-day fund transfers.