Gold ring price rises to new historical milestone

This morning (September 17), the price of gold rings increased sharply to a historical level of 79.2 million VND/tael. Meanwhile, the price of SJC gold bars remained unchanged at 80.5 million VND/tael. The price of USD at banks continued to decrease.

Saigon Jewelry Company, Doji listed price gold ring Round 77.9 - 79.2 million VND/tael for buying and selling, increased 100,000 VND/tael compared to yesterday morning. Gold price Round rings are listed by Bao Tin Minh Chau Company at 77.98 - 79.18 million VND/tael for buying and selling, an increase of 100,000 VND/tael.

SJC gold bar price is bank and businesses maintain the level of 78.5 - 80.5 million VND/tael for buying and selling.

At the same time, gold price world at 2,583 USD/ounce, up 5 USD/ounce compared to yesterday morning. World gold price is equivalent to 77 million VND/tael, excluding taxes and fees.

Gold ring prices continue to rise to new historical milestones.

The price of gold rings is constantly adjusted according to the world gold price, while for many weeks now, the price of gold bars has been SJC stand still waiting for adjustment from the State Bank.

Accordingly, the current price of SJC gold bars is 3.5 million VND/tael higher than the world price instead of 4-5 million VND/tael like more than a week ago.

In the currency market, on September 17, the State Bank kept the listing unchanged. exchange rate The central exchange rate is 24,137 VND/USD, down 35 VND/USD compared to yesterday morning. At commercial banks, the USD exchange rate is around 24,350 - 24,720 VND/USD for buying and selling.

Since the beginning of August, the price USD at this bank has decreased by about 700 VND, equivalent to a decrease of 2.7%. Thereby, narrowing the depreciation of VND against USD since the beginning of the year to 1.3% from the peak of 4.3% recorded in June and July.

In the free market, the USD price is being traded at foreign currency purchasing points at 24,930 VND/USD for buying and 25,030 VND/USD for selling. Compared to the peak of nearly 26,000 VND set at the end of June, the free USD price is currently nearly 1,000 VND lower, equivalent to a decrease of 3.8%.

In the context of cooling exchange rates, State Bank has had a series of loosening management policies. Specifically, the operator announced that from August 28, credit institutions with a credit growth rate in 2024 reaching 80% of the allocated target at the beginning of the year will be proactively adjusted to increase credit balance based on the rating score of that credit institution.

In the open market operations channel, the State Bank has also proactively stopped issuing bills and reduced the interest rate on the OMO lending channel to 4.25% to support the liquidity of the banking system. This interest rate cut has reversed the trend of interest rate hikes in the first half of 2024, when both the OMO interest rate and the bill interest rate were increased to 4.5% from 4.0% and 3.9%, respectively, at the beginning of the year.

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