Dollar, gold prices increase simultaneously

SGGP
The reference exchange rate was added VND6 per dollar to VND23,046 per dollar by the State Bank of Vietnam on May 8.
Accordingly, the US dollar prices at some commercial banks, including Vietcombank, BIDV, VietinBank, Techcombank and ACB also advanced by VND25-30 per dollar compared to the previous day.

Particularly, Vietcombank bought US dollars at VND23,300 per dollar and sold at VND23,420 per dollar.

On free market, the US dollar exchange rate also climbed by around VND50 per dollar to trade at around VND23,350 per dollar in buying price and VND23,380 per dollar in selling price.

On global market, the Dollar Index slightly slid, hovering around 97.45 points.

Global bullion price maintained rising trend, pushing domestic gold price up by VND50,000 per tael (1.2 ounces). In Ho Chi Minh City, Saigon Jewelry Company bought gold at VND36.2 million and sold at VND36.37 million.

Globally, the precious metal was at US$1,287.1 an ounce, up $2 an ounce compared to closing price in New York. The current global gold price was equal to VND36.25 million per tael, about VND100,000 per tael lower than domestic one.

On global market, gold moved forward the fourth day and hit one-week high thanks to rising buying demand to prevent risk amid tension on the trade war between the US and China escalated.

By Minh Huy – Translated by Thuy Doan

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