Gold lingers around VND44.8 million

Price of gold in Vietnam hovered around VND44.8 million a tael (1.2 ounces) on February 20 as global price climbed on hopes that Greece will seal a deal on the bailout today and after China’s central bank cut the required reserve ratio.

Sacombank Jewellery Company bought gold at VND44.4 million and sold at VND44.8 million as of 7.45 am Vietnamese time.

Saigon Jewellery Company, Vietnam’s biggest gold processor and trader, collected the metal at VND44.6 million and sold at VND44.8 million as of 9.34 am Vietnamese time.

Hanoi-based Phu Quy Jewellery Company purchased SJC-brand gold at VND44.71 million and sold at VND44.81 million as of 9.49 am Vietnamese time.

Meanwhile, Bao Tin Minh Chau Jewellery Company quoted price at VND43.75 million for buying, and VND44 million for selling at 9.54 am Vietnamese time.

Domestically, gold fetched around VND1 million a tael, higher than global price.

Dollars were bought at VND20,810 per dollar, and sold at VND20,830 per dollar on free market this morning. Meanwhile, Vietcombank quoted the greenback at VND20,810 per dollar for buying, and at VND20,870 per dollar for selling, up VND10 per dollar over last weekend.

Internationally, gold advanced on optimism on a deal later in the day between Greece and eurozone finance ministers on the second rescue package for Greece. Sentiment also was buoyed after China’s central bank cut its required reserve ratio over the weekend, boosting lending capacity.

In Asia, gold for immediate delivery gained as much as $12.1 an ounce, or 0.7 per cent, to trade at $1,736.9 an ounce at 9 am Vietnamese time.

Gold futures for April settlement rose $11.2 an ounce to $1,737.1 an ounce on the Comex in New York.

Investors reduced their net long position in gold futures and options in the week of February 14 due to optimism surrounding the Greek debt crisis. However, SPDR Gold Trust, the largest exchange traded fund backed by bullion, bought 2.6 metric tonnes of gold, increasing its holdings to 1,281.3 metric tonnes last week.

The euro exchange rate against the US dollar rose to above $1.32 a euro in Tokyo this morning.

Crude oil futures surged 1.7 per cent to trade at $105 a barrel at 9.25 am Vietnamese time, the highest level in the past nine months.

By Thuy Doan

Other news

Most view


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


185 leading domestic & in't enterprises join in VN ETE 2018

The Vietnam Exhibition of Electrical Technology and Equipment (Vietnam ETE 2018) and the Exhibition of Products, Technologies for Energy Saving and Green Power (ENERTEC EXPO 2018) yesterday kicked off in HCMC’s Saigon Exhibition Convention Center in district 7.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

SAS profits VND 118bln

The Southern Airports Service Joint Stock Company (Sasco) which is listed under code SAS on the Unlisted Public Company Market (UPCoM), announced its second quarter’s financial report with net revenue at VND 634.5billion, an increase of 14 percent compared to last year.