At the end of today, February 12, the world gold price evaporated another 18.5 USD/ounce, falling to 2,880 USD/ounce, causing the domestic gold price to drop sharply.
Gold prices plummet after setting a record - Photo: THANH HIEP
Two days, world gold price decreased by 60 USD/ounce
Thus, in just two days, the world gold price has decreased a total of 60 USD/ounce compared to the peak, equivalent to about 1.86 million VND/tael.
Converted according to the exchange rate listed at the bank, the world gold price is currently equivalent to 89.37 million VND/tael.
Today, the price of SJC gold bars decreased by another 300,000 VND/tael compared to the end of yesterday, to 90.2 million VND/tael. The buying price is 86.7 million VND/tael.
However, today the price of gold rings is no longer equal to the price of SJC gold bars like yesterday, but has decreased more sharply, to 89.7 million VND/tael (sell) and 86.7 million VND/tael (buy).
At PNJ Company, the selling price of 9999 gold rings is up to 90.1 million VND/tael, buying price is 87.9 million VND/tael.
In recent days, the world gold price has fluctuated very strongly, so gold companies have widened the difference between buying and selling gold prices from 2.2 million VND/tael to 3.5 million VND/tael. This difference is 2-3 times higher than normal times and puts the risk on the buyer.
At Bao Tin Minh Chau Company, the price of 9999 gold rings also plummeted to 90.15 million VND/tael at the end of the day. The buying price decreased to 88.3 million VND/tael.
At Mi Hong gold shop, at the end of today, the selling price of SJC gold bars was only 89.7 million VND/tael, down 200,000 VND/tael compared to the end of yesterday, the buying price was at 88.3 million VND/tael.
Compared to the converted world gold price, the price of SJC gold bars is 830,000 VND/tael higher, while the price of 9999 gold rings is 330,000 VND/tael higher.
USD price skyrocketed
USD price has continuously increased in recent days - Photo: QUANG DINH
It is noteworthy that the USD price has been increasing continuously in recent days.
If on February 3, the USD selling price at Vietcombank was only 25,500 VND/USD, then today, the USD selling price at the bank is at 25,740 VND/USD, equivalent to an increase of 240 VND/USD just over a week after Tet.
The USD buying price also increased accordingly, to 25,350 VND/USD today.
At Eximbank, the USD selling price also increased to 25,740 VND/USD, buying price at 25,360 VND/USD.
At Sacombank, the selling price of USD increased to 25,730 VND/USD, the buying price was 25,370 VND/USD.
In the free market, the selling price of USD is 25,732 VND/USD, the buying price is 25,632 VND/USD.
The central exchange rate listed by the State Bank today is 24,500 VND/USD, up 28 VND compared to yesterday.
Along with adjusting the central exchange rate, the State Bank also increased the USD selling price on the interbank market by 29 VND to 25,727 VND/USD.
Since the beginning of 2025, the central exchange rate has increased by about 321 VND/USD.
Commenting on exchange rates, the global market and economic research department of UOB Bank (Singapore) said that in the context of rising US inflation expectations, the USD is the main beneficiary of the "tariff risk premium".
“We forecast the USD index to rise to 112.6 by 2Q25. UOB’s forecast of a 25bp Fed rate cut this year is in stark contrast to the expected 75bp cuts from the European Central Bank (ECB), 100bp from the Bank of England (BOE) and Reserve Bank of Australia (RBA), and 125bp from the Reserve Bank of New Zealand (RBNZ) over the remainder of 2025.
Widening interest rate differentials will be a key driver of USD strength against other major currencies, further strengthening the USD in the first half of 2025. The EUR will also come under further pressure from the ongoing tariff threat from the US,” UOB said.
UOB also forecasts that the USD/VND exchange rate will reach 26,000 VND/USD in the third quarter of this year.
Source: https://tuoitre.vn/gia-vang-lao-doc-khong-phanh-gia-usd-tang-vun-vut-20250212200210316.htm
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