Gold prices rise sharply, reference rate falls again

Friday, Feb 05, 2016 14:27

People are trading gold at a shop. Domestic gold prices jumped sharply in the market — Photo

HA NOI (Biz Hub) — Domestic gold prices jumped sharply in the market on February 5.

At 1.45pm, the Sai Gon Jewellery Limited Company (SJC) listed the buying and selling prices of each tael of SJC gold at VND33.12 million (US$1,492) and VND33.44 million ($1,497), respectively, an increase of VND190,000 ($8.5) compared with yesterday's closing rate.

At DOJI Ha Noi, the buying and selling prices of one tael of SJC gold were VND33.2 million ($1,486) and VND33,35 million ($1,493), VND150,000 ($6.71) and VND100,000 ($4.47) higher, respectively, than yesterday's rates.

Bao Tin Minh Chau bought a tael of Thang Long dragon gold for VND31.42 million ($1,407) and sold it for VND31.87 million ($1,427), VND200,000 ($8.95) higher than the previous day's rate.

Reuters reported that gold prices increased on Thursday, edging to a three-month high as global economic and financial headwinds continue to present obstacles to an American interest rate rise in the short-term period.

Gold prices declined slightly on the global trading website from yesterday's rate by $0.2, or 0.02 per cent, to touch $1,155 .2 per ounce, or 1.205 per tael.

In the foreign exchange market, the reference rate of the State Bank of Viet Nam (SBV) on February 5 dropped another 15 dong to touch VND21,861 per American dollar, the lowest since the SBV applied the central rate in January.

Commercial banks were allowed to apply the ceiling rate of VND22,517 and the floor rate of VND21,205, with a margin of +/-three per cent from the SBV's reference rate, on February 5.

At 11am, BIDV listed the dollar buying and selling rates at VND22,290 and VND22,370, 30 dong and 40 dong higher, respectively, compared with yesterday's rates.

The dollar rates also rose at Vietinbank, with VND22,270 being the buying rate and VND22,350 being the selling rate, an increase of 25 dong compared with the previous day.

Techcombank increased its dollar buying rate by 20 dong to reach VND22,200, while maintaining the selling rate at VND22,330. —VNS

Comments (0)