Specifically, SJC Company currently lists the plain gold ring price at 76.45-77.85 million VND/tael, a decrease of 50 thousand VND/tael compared to yesterday. SJC gold price also stands still at 78-80 million VND/tael.
DOJI Group applies a gold ring buying price of 76.55 million VND/tael and a selling price of 77.75 million VND/tael. Bao Tin Minh Chau lists theirs at 76.52-77.72 million VND/tael, while PNJ is at 76.5-77.79 million VND/tael.
SJC gold is currently traded at 78.0 million VND/tael for buying and 80.0 million VND/tael for selling in 4 large banks and gold enterprises.
In the free market, the buying and selling price of SJC gold is not much different from that of the 4 large banks and enterprises. The selling price is currently at 80.5 million VND/tael.
In the international market, gold prices are still in a sideways trend. The spot gold price is currently at 2,454 USD/ounce, equivalent to about 75.3 million VND/tael when converted according to the current VND/USD exchange rate, excluding taxes and fees.
Gold is under pressure after the US released a series of important figures that are unfavorable for this precious metal. According to Valeria Bednarik, Chief Analyst at FXStreet, a slew of positive US data on Thursday eased concerns about an economic recession and boosted stocks to near-weekly highs. Financial markets welcomed the news that US retail sales rose 1% in July, far better than the expected 0.3% increase. Moreover, the number of initial jobless claims in the week ending August 9 rose less than predicted, up 227,000 compared to the forecast of 235,000. This news caused the US dollar to strengthen against all major currencies.
The decrease in jobless claims indicates that the US economy is recovering well, reinforcing the possibility that the US Federal Reserve (Fed) will cut interest rates lower than expected in September. According to some experts, a rate cut in September is certain. However, the new data reinforces the likelihood that the Fed will cut by 25 basis points instead of the expected 50.
Deadline for Reporting Gold Market Management and Operations Results to SBV Today, January 31
As per the directive of Prime Minister Pham Minh Chinh, today (January 31, 2024) is the deadline for the State Bank of Vietnam (SBV) to submit a report on the summary of Decree 24, which includes proposals for amending and supplementing certain regulations for managing the gold market.
Which bank offers the highest interest rate for online savings in early February 2024?
Beginning February 1st, 2024, several banks have been adjusting their interest rates downwards for savings accounts ranging from 1 to 24 months. Based on a survey conducted across 16 banks, the highest annual interest rate for online savings deposits at a 6-month term is 5%, while for a 12-month term, it is 5.35%.
Gold prices surge as Lunar New Year approaches
On the morning of February 1st, the domestic gold price continued to surge with an increase of 500,000 VND/tael, approaching the 78 million VND/tael mark. As Tet holiday approaches, the price of gold tends to rise sharply.
4 Factors Putting Pressure on USD/VND Exchange Rate in Q1/2024
With the currency exchange rate fluctuating in the first few weeks of 2024, Mr. Ngo Dang Khoa, Director of Foreign Exchange, Capital Markets and Securities Services at HSBC Vietnam, highlights four factors putting pressure on the USD/VND exchange rate in Q1/2024…
