Jun 20: Vietnam Gold Flirts at 42.23m dong/Tael

Vietnam gold almost unchanged from yesterday close, moving around VND42.23 million/tael on Wednesday morning. World gold inched up in Asia trade this morning.

SJC Hanoi quoted at VND42.15 million/tael for bid and VND42.23 million/tael for ask, respectively as of 10:33 am, Hanoi time.

Sacombank-SBJ gold was listed at VND42.17-VND42.22 million/tael for bid and ask, respectively.

Rong Thang Long gold, a product of Bao Tin Minh Chau company was trading at VND41.10 million/tael and VND41.40 million/tael for bid and ask, respectively.

Domestic gold premium stood high arround VND1.45 million/tael today which is calculated under the vietcombank rate, higher distance from yesterday.

Gold Inches Up in Asia Trade

Gold inched up this morning in Asia on speculative buying driven by hopes that the US Federal Reserve may extend its long-term bond-buying programme to stimulate the economy.

At Kitco.com this morning, spot gold was quoted at $1,619.80-1,620.80/an ounce for bid and ask, respectively as of 10:40 am, Hanoi time.

Europe won support from world leaders on Tuesday for an ambitious but slow-moving overhaul of the euro zone, even as pressure built in financial markets for quicker solutions to its debt crisis that threatens the world economy.

Jewelers in Thailand cashed in gold as global prices extended gains for an eighth consecutive session on Tuesday, while a weaker rupee curbed buying interest in India, the world’s main consumer.

Local Dollar Stable

Vietnam’s central bank kept dollar midpoint rate to VND20,828 today, stable for nearly 6 months.

Most of commercial banks continued lowering the dollar prices today by VND5-15, ranging from VND20,900-20,920 for bid and VND20,960-20,970 for ask, respectively.

The USD/VND exchange rates in both the official and free markets have been up and down in these days, but in small range while the midpoint rate set by the central bank is still firm.

 

Category: Finance