Gold traded around VND43.6 million

Gold price in Vietnam rose by VND100,000 a tael (1.2 ounces) over last weekend on April 9, due to global price hike.

Sacombank Jewellery Company bought gold at VND43.47 million and sold at VND43.62 million as of 9am Vietnamese time.

Saigon Jewellery Company, Vietnam’s biggest gold processor and trader, collected the metal at VND43.35 million and sold at VND43.55 million as of 9.50am Vietnamese time.

Hanoi-based Phu Quy Jewellery Company purchased SJC-brand gold at VND43.49 million and sold at VND43.59 million as of 9.30am Vietnamese time.

Bao Tin Minh Chau Jewellery Company quoted price at VND41.6 million for buying, and at VND41.9 million for selling at 11.20am Vietnamese time.

Non-SJC gold struggled to narrow the gap with SJC-brand gold after the State Bank of Vietnam affirmed that non-SJC gold will still be eligible for trading after Decree 24 for controlling trading of gold took effect. However, in comparison with SJC-brand gold, prices of some non-SJC gold bars were still much lower.

Domestically, gold fetched VND2.4 million a tael, higher than global price.

On free market, dollars were bought at VND20,810 per dollar, and sold at VND20,830 per dollar in Hanoi this morning, unchanged as of last Saturday.

Vietcombank bought the greenback at VND20,810 per dollar, and sold at VND20,860 per dollar. The State Bank of Vietnam still kept the interbank dollar exchange rate at VND20,828 per dollar.

Internationally, gold rose strongly at the trading session in Asia this morning after disappointing US jobs data revived expectations that the US central bank may ease monetary policy further.

Gold for immediate delivery rose as much as $8.9 an ounce to close at $1,641.3 an ounce at 10.05am Vietnamese time.

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

Crude oil futures for May delivery slid $1.13 a barrel to trade at $102.12 a barrel on the New York Mercantile Exchange at 10.10am Vietnamese time.

By Thuy Doan

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