SJC gold bar price fluctuates strongly, USD falls rapidly

Circular 12/2023 of the State Bank amending and supplementing a number of articles of legal documents regulating the implementation of the task of managing state foreign exchange reserves will add the Foreign Exchange Reserve Management Department to participate in the gold bar auction transaction process between the State Bank and credit institutions. This regulation is not related to the buying and selling of SJC gold bars by organizations with gold bar trading licenses and individuals owning SJC gold bars.

Previously, rumors of a temporary halt in gold bar trading at the end of October caused people to sell gold, leading to a sharp drop in price of nearly 2 million VND/tael early on November 6. The buying price of SJC gold bars dropped to 67 million VND/tael at one point, and the selling price was 68.5 million VND/tael. Then the price quickly increased again when SJC Company released the above information. On the same afternoon, the buying price was 68.5 million VND, and the selling price was 69.8 million VND. Meanwhile, the price of 4-digit 9 gold rings increased by 50,000 VND per tael, buying at 58.95 million VND, selling at 59.95 - 60.05 million VND.

On the same day, the USD price at banks dropped sharply by 180 VND. Eximbank changed the foreign currency price about 40 times during the day, the buying price dropped to 24,110 - 24,190 VND, the selling price was 24,510 VND. At Vietcombank , the USD price dropped to 24,130 - 24,160 VND for buying, 24,500 VND for selling... The State Bank reduced the central exchange rate by 20 VND, down to 24,064 VND/USD. After many days of no trading on the open market, on November 6, the State Bank withdrew nearly 5,000 billion VND. 6 members won the bid for 28-day term bills, interest rate 1.5%/year.

Source link: https://thanhnien.vn/gia-vang-mieng-sjc-bien-dong-manh-usd-truot-giam-nhanh-185231106232620552.htm