Each tael of gold decreases by one million dong

This morning, jewelry stores reduced prices for plain rings and gold bars by millions of dong, while the USD price hit the ceiling and set a new peak.

Morning of February 12, gold price Domestic prices continued to decline after yesterday's strong fluctuations.

Saigon Jewelry Company (SJC) listed the buying and selling price of plain rings at 86.7 - 89.7 million VND, down 1.3 million VND for buying and 800,000 VND for selling compared to the end of yesterday. At Phu Nhuan Jewelry Company (PNJ), the price of plain rings also dropped to 87.4 - 89.9 million VND, while Bao Tin Minh Chau dropped to 88.4 - 90.45 million VND per tael.

SJC gold bars were also listed this morning at around 86.7 - 90.2 million VND per tael, down sharply by 1.3 million VND for buying and 300,000 VND for selling compared to yesterday. The buying and selling difference widened to 3.5 million VND per tael.

Domestic gold prices fluctuated in the context of the world's precious metals increasing rapidly and then reversing and falling sharply. The world's precious metal once set a record of 2,940 USD per ounce but could not maintain this level and quickly turned around and fell below 2,900 USD.

At 10am Hanoi time, each ounce of gold was hovering around 2,889 USD, converted at Vietcombank's selling rate equivalent to 89.8 million VND per tael. The difference between domestic and international gold prices was less than 1 million VND in the context that this morning the exchange rate on the official market also increased rapidly.

Today, the State Bank announced the central exchange rate at 4,550 VND, down 2 VND compared to yesterday. With a 5% margin compared to this level, commercial banks are allowed to buy and sell US dollars in the price range of 23,323-25,777 VND.

In the past two days, the State Bank of Vietnam (SBV) has increased the selling price of USD to commercial banks by a total of VND277, to VND23,373-25,727. This is also the first time the agency has increased the selling price of USD since October last year.

This morning, listed commercial banks USD price close to the ceiling, and also the highest level ever. Vietcombank listed the dollar price at 25,387-25,777 VND, up 77 VND compared to yesterday. The exchange rate at BIDV was 25,415-25,775 VND, and Eximbank was 25,390 - 25,770 VND.

Source