Increase in the price of gold
When opening the negotiation session on the morning of May 7, the price of SJC gold ingots was listed by large companies at 120.7-122.7 million VND/TAEL (sale – sale), an increase of 500,000 VND/TAEL both for purchase and sale compared to the closing price of yesterday.
The price of single gold rings has also increased by 500,000 VNDs in both directions of purchase and sale, listed at 116-118.5 million VND/Tael (purchase – sale).
At the opening of this morning negotiation session (Vietnam time), the price of precious metals on the international market was anchored around 3,393 USD/OCE, down USD 45 compared to the peak of yesterday. Converted to the exchange rate excluding taxes and fresh, the world price of gold is equivalent to 106.9 million VND/Tael.
The price of gold has increased by more than 2.4 million VND/Tael in one day (photo: Manh Quan).
During the session of May 6, the price of gold reached 3,436 USD/OCE, its highest level in two weeks. Gold prices have increased due to significant purchases of China after long vacation and concerns about the possibility that the United States imposes customs duties on imports of pharmaceuticals.
The rise in gold is supported by a new wave of investments from China, as well as by the efforts of the world’s central banks to diversify their portfolios and reduce their dependence on the US dollar, said Adrian Ash, research director at Bullionvault.
-At the same time, the greenback has weakened, investors being increasingly impatient in the face of the evolution of trade, making gold more attractive for holders of other currencies.
Another factor likely to influence the direction of gold is the position of the Fed in terms of interest rate. Investors are now closely monitoring the next political decision of the American central bank, the remarks of the president of the Fed, Jerome Powell, having to provide clues to the relaxation calendar.
The central rate continues to lower
At the end of yesterday’s negotiation session, the central exchange rate announced by the State Bank was 24,938 VND/USD, down 4 VND compared to before. With an amplitude of 5 %, the USD exchange rate that commercial banks are authorized to negotiate is from 23,692 to 26,187 VND/USD.
The main banks have displayed prices in USD between 25,760 and 26,150 VND (purchase – sale), a slight increase of 10 VND both for purchase and sale. The stock banks have listed prices in USD at 25,760-26 160 VND (purchase – sale).
On the “black market”, the USD is exchanged at 26,420-26 520 VND (purchase – sale), down 10 VND in each direction.
Source : https://dantri.com.vn/kinh-doanh/gia-vang-tang-tien-sat-123-trieu-dongluong-20250507070129941.htm
