Leading precious metal companies in Vietnam, including Saigon Jewelry Company (SJC), Bao Tin Minh Chau, and DOJI Group, have listed the buying and selling prices of SJC gold bars at 131 – 133 million VND per tael, unchanged from the previous day.
Other gold traders are also offering SJC gold bars at the same rate of 133 million VND per tael.
Gold ring prices are notably lower than gold bars, ranging from 2.8 to 3.5 million VND per tael, depending on the brand.
Gold ring prices are 2.8 – 3.5 million VND per tael lower than SJC gold bars, varying by brand.
Bao Tin Minh Chau offers the highest rates, listing gold bars at 127 – 130 million VND per tael.
Phu Quy Jewelry Group prices gold rings between 126.8 and 129.8 million VND per tael.
Despite the upcoming October 10th policy change allowing banks and businesses to produce non-SJC gold bars, SJC remains the dominant brand due to its narrower buy-sell spread compared to gold rings.
The spread for gold bars is 2 million VND per tael, while gold rings range from 3 to 3.5 million VND per tael, making gold bars a more attractive option for buyers.
Globally, gold prices are listed at 3,689 USD per ounce, a 5 USD increase from the previous day, equivalent to over 117 million VND per tael. SJC gold bars remain significantly higher than international prices, with a premium of over 15 million VND per tael.
In the currency market, the State Bank of Vietnam set the central exchange rate at 25,186 VND per USD. With a 5% band, commercial banks can trade USD within 23,927 – 26,445 VND per USD.
The reference buying and selling rates at the State Bank’s trading center have decreased to 23,977 – 26,395 VND per USD.
Commercial banks continue to list USD selling rates at the ceiling of 26,445 VND per USD, despite the central rate decrease.
On the black market, USD rates range from 26,410 to 26,510 VND per USD.
USD Free Market Rates Experience Significant Fluctuations
Over the past two months, the free USD rate has consistently declined in the open market, moving further away from its peak of 27,000 VND.
September 22 Afternoon: Ring Gold and SJC Gold Prices Surge, Global Gold Hits New Peak
The current purchase price for plain gold rings fluctuates between 126.8 and 127.2 million VND per tael, while the selling price ranges from 129.5 to 130.2 million VND per tael.
Is Gold Expensive or Affordable?
Even as gold achieves its strongest growth since 1979, no analyst is advising investors to slow down.
Afternoon of September 19th: Gold Ring Prices Continue Downward Trend
As of the morning of September 19th, SJC gold prices remain relatively stable compared to the previous day’s close, trading within the range of 130.0 to 132.0 million VND per tael. Meanwhile, prices for plain gold rings continue to decline, dropping by approximately 200,000 to 300,000 VND per tael.
USD Exchange Rate to Stabilize: Dr. Can Van Luc Predicts Maximum 4% Annual Increase
According to this expert, there are four primary reasons why the exchange rate has still risen by 3.4% since the beginning of the year, despite the U.S. dollar depreciating by approximately 10%.
