Gold price plummets below 100 million VND, USD/VND exchange rate increases sharply

Enterprises listed the price of SJC gold bars at 96.5 million VND/tael (buy) - 99.5 million VND/tael (sell), down 600,000 VND/tael each way compared to the end of last week.

The price of gold rings also went down and slipped below the above mark. Saigon Jewelry Company Limited listed gold rings of type 1-5 at only 96.5 million VND/tael (buy) - 99.53 million VND/tael (sell), 600,000 VND/tael lower than last weekend each way.

Gold prices drop sharply. Photo: HT

Phu Nhuan Jewelry Joint Stock Company reduced the price by VND800,000/tael (buying price) and VND600,000/tael (selling price), to VND96.7 million/tael (buying price) - VND99.5 million/tael (selling price).

Following the same trend, Bao Tin Minh Chau Company Limited lowered the gold price to 96.9 million VND/tael (buy) - 99.8 million VND/tael (sell).

Domestic gold prices have fallen sharply following international prices. At 9am this morning, gold was trading at $3,001.5/ounce, down more than $20/ounce compared to the same time yesterday. Previously, gold prices had fallen to $2,986/ounce amid a sharp increase in the USD and market rumors that the US might delay imposing new tariffs.

In the foreign exchange market, the State Bank of Vietnam announced the central exchange rate of VND to USD, applicable for April 8, 2025, as 1 USD = 24,898 VND, an increase of 12 VND compared to the end of last week.

BIDV listed the USD price at 25,690 VND (buy) - 26,050 VND (sell), up 90 VND per USD.

Vietcombank set it at 25,680 VND (buy) - 26,040 VND (sell) instead of 25,600 VND (buy) - 25,960 VND (sell) last weekend.

Source: https://hanoimoi.vn/gia-vang-lao-doc-xuong-duoi-100-trieu-dong-ty-gia-usd-vnd-tang-manh-698219.html