SJC gold bar price skyrockets, USD price continues to fall sharply

(NLĐO) – SJC gold bar prices remain high while USD prices at commercial banks continue to fall.

On the afternoon of February 14th, the price of SJC gold bars was listed by SJC and PNJ companies at 88.3 million VND/ounce for buying and 91.3 million VND/ounce for selling, remaining high compared to the morning, after increasing by 600,000 VND/ounce compared to the end of yesterday.

The price of gold bars fluctuates constantly and varies between different banks.ACB , Eximbank, and Sacombank banks are trading SJC gold bars at between 90.5 million and 91 million VND per tael. Mi Hong Company is selling gold bars at 89.8 million VND per tael.

Similarly, the prices of 24K gold rings and jewelry remained high, around 88.3 million VND/ounce for buying and 91.1 million VND/ounce for selling, stable compared to the morning after increasing by 600,000 VND per ounce compared to the end of yesterday.

The spread between buying and selling prices continues to remain at its highest level, reaching 3 million VND/ounce. Domestic gold prices are anchored at their peak while world prices continue to hold firm above the 2,930 USD/ounce mark. Currently, the world gold price, converted according to the listed exchange rate, is approximately 90.5 million VND/ounce, only about 1 million VND/ounce lower than SJC gold bars and gold rings.

The movement of gold prices is contrary to the sharp decline in USD prices at banks. This afternoon, the central exchange rate listed by the State Bank of Vietnam is 24,562 VND/USD, down 10 VND/USD compared to yesterday. This is the first day the central exchange rate has cooled down after 5 consecutive days of sharp increases.

The price of SJC gold bars and gold rings continues to remain at high levels.

The State Bank of Vietnam's USD selling price in the interbank market also cooled down after three consecutive days of increases, falling to 25,740 VND/USD, a decrease of 10 VND per USD compared to yesterday.

The downward trend in the central exchange rate has prompted commercial banks to also adjust their USD prices downwards. Vietcombank is trading USD at 25,220 VND/USD for buying and 25,580 VND/USD for selling, a decrease of 80 VND/USD compared to yesterday. In two days, the USD price at this bank has fallen by nearly 200 VND.

Similarly, Eximbank, ACB, Sacombank, and BIDV also simultaneously adjusted their USD exchange rates downwards after several days of increases.

The domestic USD price has fallen amid a decline in the USD on the international market. The USD index is currently trading at 106.79 points, down approximately 1% from the previous session.

According to analysts, in recent days, while the USD exchange rate at banks has risen rapidly, the State Bank of Vietnam has not aggressively sold its foreign exchange reserves to stabilize the exchange rate, but instead used the central exchange rate adjustment tool. This shows that it is prioritizing close monitoring of market developments such as the fluctuations of the USD, the monetary policies of major central banks, etc.

The State Bank of Vietnam stated that it has managed the exchange rate flexibly in the past, coordinating monetary policy tools synchronously in each period and time, and will take appropriate measures to maintain exchange rate stability and market sentiment.

Source: https://nld.com.vn/gia-vang-mieng-sjc-cao-chot-vot-gia-usd-tiep-tuc-giam-manh-196250214162600454.htm