Gold recovers VND150,000 per tael

Price of gold in Vietnam rose by VND150,000 a tael (1.2 ounces) over last weekend to around VND45.1 million a tael on February 6 as global price recovered after Asian investors rushed to buy gold after prices declined.

Sacombank Jewellery Company bought gold at VND44.7 million and sold at VND45.05 million as of 7:50 am Vietnamese time.

Saigon Jewellery Company, Vietnam’s biggest gold processor and trader, collected the metal at VND44.8 million and sold at VND45.1 million as of 9:09 am Vietnamese time.

Hanoi-based Phu Quy Jewellery Company purchased SJC-brand gold at VND44.95 million and sold at VND45.07 million as of 12:22 pm Vietnamese time.

Meanwhile, Bao Tin Minh Chau Jewellery Company quoted price at VND44 million for buying, and VND44.2 million for selling at 12:30 pm Vietnamese time.

Domestically, gold fetched VND900,000 a tael, higher than global price.

On free market, dollar exchange rate inched up slightly this morning. The greenback was bought at VND20,980 per dollar, and sold at VND21,010 per dollar, an increase of VND10 per dollar over last Saturday.

Meanwhile, some commercial banks lowered their dollar exchange rate to below the ceiling price. Vietcombank bought dollars at VND20,920 per dollar, and sold at VND20,990 per dollar, up VND14 per dollar in buying price but down VND46 per dollar in selling price.

After Tet holidays, the rate continually changed at commercial banks despite a stable interbank exchange rate at VND20,828 per dollar.

Internationally, gold strongly rebounded as Asian investors bought gold heavily, taking advantage of a sharp decline last weekend.

Gold for immediate delivery rose as much as $7 an ounce, or 0.4 per cent, to trade at $1,734.3 an ounce in Asia at 9:40 am Vietnamese time.

International analysts said that gold remained under depreciation pressure as a better-than-expected US job report in January eroded expectations for another quantitative easing package from the US Federal Reserve. Besides, that Greece had not reached an agreement with its private creditors yet also increased cautiousness.

Last week, the heavy metal lost 0.6 per cent, ceasing a four-consecutive-weekly-winning streak.

The euro exchange rate against the US dollar was at nearly $1.31 a euro in Tokyo this morning.

Crude oil futures dropped $0.56 a barrel to trade at $97.28 a barrel at 9:50 am Vietnamese time.

By Thuy Doan

Other news

Most view

Banking-finance

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.


Economy

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.