SJC gold price "evaporates" more than 1.5 million VND, USD exchange rate drops sharply

SJC gold prices at domestic businesses plummeted in the opening session of the first morning of the week (November 6), while the USD exchange rate at many commercial banks also dropped sharply.

Immediately after the transaction, Doji Hanoi Company and Saigon Jewelry Company both listed the price from 67.0-68.50 million VND/tael (buy/sell), down from 1.45-1.55 million VND/tael. Similarly, VietnamGold Company listed the price from 67.35-69.35 million VND/tael, down 1 million VND/tael for buying and 300,000 VND/tael for selling.

Last week, with 4 sessions of decline and only 2 sessions of increase, the SJC brand “evaporated” about 720,000 VND/tael. However, the buying/selling price gap widened, reaching 1.3 million VND/tael in some places.

On the side of Bao Tin Minh Chau Company, this morning the company announced the price of Rong Thang Long gold from 59.18-60.13 million VND/tael (buy/sell), remaining stable. Last week, this brand increased by 400,000 VND/tael. Due to different adjustments, this brand is still lower than the price of SJC gold by about 8.35 million VND/tael.

In the world, gold price is trading at 1,992 USD/ounce, down about 1 USD compared to the same time in the previous session. When converted according to the domestic USD exchange rate, this precious metal is approximately 59.08 million VND/tael, about 9.4 million VND/tael lower than the SJC brand.

This morning, the State Bank listed the central exchange rate at 24,064 VND/USD, down 20 VND compared to the previous session.

With a margin of +/-5%, Vietinbank announced the buying price at 24,270 VND/USD and the selling price at 24,610 VND/USD, down 95 VND. BIDV applied the exchange rate from 24,280-24,580 VND/USD, down 90 VND.

Meanwhile, Agribank announced from 24,320-24,640 VND/USD, down 75 VND, while Vietcombank offered from 24,280-24,620 VND/USD (buy/sell), down 70 VND compared to the previous closing price.