World gold price 'plummets'; USD unexpectedly increases, surpasses 106 mark

World gold price "plummets" down

Today (May 1), domestic gold continued to stand still at 83 million VND/tael, while world gold prices plummeted, slipping below the 2,300 USD/ounce mark.

At the time of survey at 5:00 a.m. on May 1, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 82.60 million VND/tael for buying and 84.80 million VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 83.25 - 85.10 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 83.25 - 85.35 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,285.50 USD/ounce, down 48.8 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 68.888 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 14.112 million VND/tael higher than the international gold price.

USD unexpectedly increases, surpassing 106 mark

The USD exchange rate on May 1 continued to stagnate, while the world USD suddenly skyrocketed back to the 106-point mark due to support from economic data.

The central VND/USD exchange rate announced by the State Bank is adjusted to 24,246 VND/USD, down 18 VND compared to the trading session on April 26.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,450 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank of Vietnam from 23,400 to 25,450 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of downward adjustments at banks. Specifically, Vietcombank has a buying price of 25,088 and a selling price of 25,458, down 49 VND compared to the trading session on April 26. The current USD buying and selling prices are in the range of 24,000 - 25,500 VND/USD.

In the world market, the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 106.32 points - up 0.69% compared to the transaction on April 30.

Japanese Yen Turns Down Again

Today, the Japanese Yen exchange rate immediately fell again after the US economic data was released, and the black market Yen exchange rate also slightly decreased in both directions.

Japanese Yen exchange rates surveyed on the morning of May 1, 2024 at specific banks are as follows:

At Vietcombank, the buying rate is 156.74 VND/JPY and the selling rate is 166.02 VND/JPY; At Vietinbank, the Yen rate is 156.58 VND/JPY and 166.28 VND/JPY; At BIDV, it is 157.95 VND/JPY and 166.28 VND/JPY. At Agribank, the Japanese Yen buying and selling rates are 158.99 VND/JPY and 166.91 VND/JPY.

At Eximbank, the prices are 159.33 VND/JPY and 164.08 VND/JPY respectively. At Techcombank, the prices are 155.08 VND/JPY and 167.56 VND/JPY respectively. At Sacombank, the prices are 159.97 VND/JPY and 164.98 VND/JPY.

According to the survey, today Sacombank is the bank with the highest buying rate of Japanese Yen and Eximbank is the bank with the lowest selling rate among the banks.

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