(Dan Tri) - Following the increase in the international market, the domestic gold price increased, SJC gold bars reached 87 million VND/tael in the selling direction. On the contrary, the USD price decreased.
Domestic gold price increased
On the morning of January 16, the price of SJC gold bars was listed by large enterprises at 85-87 million VND/tael (buy - sell), an increase of 400,000 VND each way compared to the closing price of yesterday's session. The difference between the buying and selling prices was maintained at 2 million VND.
The price of plain round gold rings is listed at 84.8-86.5 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and 400,000 VND/tael for selling compared to the closing price of yesterday's session.
The price of gold bars and gold rings in Vietnam has increased in the context of the recovery of world prices. In the world, the price of gold is trading around 2,691 USD/ounce, up 14 USD compared to the previous session. This is the second session that this metal has increased in price. Converted according to the exchange rate excluding taxes and fees, the world gold price is equivalent to nearly 82.8 million VND/tael.
Gold prices continued to rise after data showed inflation was on a downward trend, adding to investors’ hopes that the US Federal Reserve will continue to ease interest rates this year. That has supported precious metals bulls, as lower inflation means the Fed could cut rates sooner.
Domestic gold prices fluctuate slightly (Photo: Tien Tuan).
Forecasting gold's volatility in the first half of the year, UBS Bank noted that a stronger US dollar and rising US bond yields are likely to continue to act as headwinds for gold in the first half of the year. However, any decline in gold will be offset by demand for the metal as a diversifier.
USD prices fell across the board
The State Bank of Vietnam this morning listed the central exchange rate at 24,333 VND, down 3 VND from the previous rate. With a 5% margin compared to the central exchange rate, banks are allowed to buy and sell USD in the price range of 23,118-25,549 VND.
Major banks buy and sell USD at 25,155-25,549 VND. Joint stock banks trade USD at 25,160-25,549 VND. Banks all list USD selling prices at the ceiling price.
On the free market, the greenback is traded at 25,620-25,720 VND (buy - sell), down 20 VND compared to yesterday's session.
Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-vang-nhan-dong-loat-tang-nhe-20250116003705770.htm
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