Gold bar prices closed higher on October 29th, both for buying and selling. Gold bars were listed at 146.1-148.1 million VND/ounce (buying - selling), an increase of 3 million VND/ounce in each direction.
Following the trend of gold bars, the price of gold rings also surged sharply compared to early yesterday morning. SJC listed gold rings at 143.8-146.3 million VND/ounce (buying price - selling price), an increase of 2.6 million VND/ounce.
Domestic gold prices are 23.1 million VND/ounce higher than world prices.
Globally, gold prices fell by $31 per ounce, currently trading around $3,936 per ounce (equivalent to approximately 125 million VND per tael at the Vietcombank exchange rate, excluding taxes and fees). This price is 23.1 million VND per tael cheaper than the domestic price.
Nevertheless, gold prices rose nearly 2% on Wednesday, recovering from a three-week low recorded in the previous session, as some short positions were closed ahead of the Fed's decision.
Since the beginning of the year, gold has risen 52% and reached a record high of $4,381.21 per ounce on October 20th, supported by geopolitical and economic instability, expectations of a Fed interest rate cut, and continued net buying by central banks.
The USD exchange rate fell slightly.
The State Bank of Vietnam announced that the central exchange rate of the Vietnamese Dong against the US Dollar is currently at 25,091 VND.
The reference USD exchange rate at the State Bank of Vietnam's exchange desk saw a slight decrease in buying and selling rates, currently standing at 23,887-26,295 VND.
Source: https://dantri.com.vn/kinh-doanh/vang-mieng-sjc-tang-3-trieu-dongluong-dat-hon-the-gioi-23-trieu-dong-20251030070612929.htm
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