Saigon Jewelry Company listed SJC gold bar prices at 125.6 – 126.6 million VND per tael for buying and selling, an increase of 1.2 million VND per tael compared to yesterday.
Other businesses also simultaneously increased SJC gold bar prices to 126.6 million VND per tael. This is the highest level for SJC gold bars.
Gold ring prices also surged to a new record high following the increase in gold bar prices. Specifically, Bao Tin Minh Chau Jewelry Company listed gold ring prices at 118.7 – 121.7 million VND per tael, an increase of 1.1 million VND per tael compared to the beginning of yesterday.
Phu Quy Jewelry Group listed gold ring prices at 118.3 – 121.3 million VND per tael, an increase of 1.1 million VND per tael.
Gold ring and SJC gold bar prices reach new peaks.
At the same time, the world gold price was listed at 3,372 USD per ounce.
In the currency market, this morning, the State Bank announced the central exchange rate at 25,298 VND per USD.
Exchange rates at commercial banks reversed course and decreased after peaking at nearly 26,600 VND per USD.
Specifically, Vietcombank, the largest foreign currency trading bank in the system, listed USD prices at 26,130 – 26,520 VND per USD for buying and selling.
In the free market, USD prices today were traded at 26,510 – 26,580 VND per USD for buying and selling.
Given the “hot” developments in the USD exchange rate recently, the State Bank has just announced a plan to sell foreign currencies through forward contracts with cancellation within 180 days.
This policy will be applied on August 25 and 26, but transactions will only be made with credit institutions that have a negative foreign currency status, with a selling price of 26,550 VND per USD.
The maximum amount of foreign currency sold to each bank in each transaction is to bring the bank’s foreign currency status to a balanced state.
For forward transactions of 100 million USD or more, credit institutions are allowed to cancel a maximum of 3 times. If the forward transaction is less than 100 million USD, the banks are allowed to cancel a maximum of 2 times.
“Riding the Wave of Precious Metal Profits: Silver Buyers Reap 35% Gains Since the Start of the Year”
“Since the start of the year, domestic silver prices have surged over 35%, outpacing the gains of the VN-Index (approximately 30%) but still lagging behind the impressive surge in gold prices (nearly 49%).”
Is the Sky-High Price of SJC Gold Bars Worth the Investment?
The SJC gold bar price continues to soar, reaching a historic peak of over 125 million VND per tael, an impressive 18 million VND above global prices.
“Caution Prevails in the Gold and Stock Markets”
A cautious sentiment is prevailing in the gold and stock markets, from Asia to the US. All eyes are on the Federal Reserve’s Jackson Hole symposium, with market participants eagerly awaiting clues regarding the future direction of monetary policy.
The Golden Opportunity: SJC Gold Soars to New Heights with a Whopping 40 Million Dong Increase Since the Start of the Year
As of August 18th, the price of SJC gold bars remained high at over 124 million VND per tael. Since the beginning of the year, the price of this commodity has surged by nearly 40 million VND per tael, representing a staggering almost 50% increase in just over eight months.
The Soaring Price of Gold: USD Hits All-Time High
This morning (August 20th), the price of SJC gold soared to a staggering peak of VND 125 million per tael, firmly establishing a new high. In tandem with this ascent, the value of USD in Vietnam’s banking system breached the threshold of VND 26,500 per USD, marking yet another record in its own right.
