Domestic and world gold prices plummet; USD reverses and slightly decreases, waiting for important inflation data

Domestic and world gold prices simultaneously plummeted

Today, SJC gold fell sharply by 1.3 million VND/tael, pulling the price down to 90 million VND/tael, while world gold also reversed and decreased.

At the time of survey at 5:00 a.m. on May 14, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold at 87.50 million VND/tael for buying and 89.00 million VND/tael for selling.

SJC gold fell to 90 million VND/tael, world gold also reversed and decreased.

At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 87.60 - 89.20 million VND/tael (buy - sell).

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 87.00 - 89.00 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 87.00 - 89.20 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,335.90 USD/ounce, down 24.32 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 70.578 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 16.922 million VND/tael higher than the international gold price.

USD reverses downward trend, awaiting important inflation data

Today, VCB USD adjusted down 5 VND in both buying and selling directions, world USD also reversed and decreased slightly, waiting for inflation data announcement.

The central VND/USD exchange rate announced by the State Bank is adjusted to 24,266 VND/USD, down 5 VND compared to the trading session on May 13.

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 25,149 and a selling price of 25,479, down 5 VND in both buying and selling compared to the trading session on May 13. 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 105.22 points - down 0.07% compared to the transaction on May 13.

Japanese Yen continues to "fall"

Today, the Japanese Yen exchange rate continued to decrease slightly, while the black market Yen exchange rate increased in both buying and selling directions.

Japanese Yen exchange rates surveyed on the morning of May 14, 2024 at specific banks are as follows:

At Vietcombank, the buying rate is 158.36 VND/JPY and the selling rate is 167.61 VND/JPY, down 0.19 VND for buying and 0.2 VND for selling. At Vietinbank, the Yen rate decreased 1.58 VND for buying and increased 0.17 VND for selling, equivalent to 158.63 VND/JPY and 168.33 VND/JPY. At BIDV, the Japanese Yen rate decreased 0.19 VND for buying and selling, reaching 158.35 VND/JPY and 166.71 VND/JPY, respectively. At Agribank, the buying and selling rates are 159.42 VND/JPY and 167.40 VND/JPY - down 0.2 VND for buying and down 0.22 VND for selling.

At Eximbank, the buying rate increased by 0.12 VND and the selling rate increased by 0.14 VND, respectively, to 160.63 VND/JPY and 165.93 VND/JPY. At Techcombank, the Japanese Yen exchange rate decreased by 0.13 VND and the selling rate decreased by 0.18 VND, respectively, to 156.59 VND/JPY and 168.98 VND/JPY. At Sacombank, the Japanese Yen exchange rate decreased by 0.22 VND and the selling rate decreased by 0.18 VND, respectively, to 161.25 VND/JPY and 166.3 VND/JPY. At HSBC Bank, the Japanese Yen exchange rate decreased by 0.3 VND and the selling rate decreased by 0.33 VND, respectively, to 159.03 VND/JPY and 165.8 VND/JPY.

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

Source