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Local gold prices and forex rate remain stable
The gold prices were stable for a week in the local market as on June 30, while the prices in the world market held steady close to a two-month high.
At 10am in Ha Noi, each tael of the state-owned SJC gold was listed at VND36.82 million or $1,753 at the Saigon Jewellery Company.
Meanwhile, on the global gold trading floor, Kitco.com, the gold price rose by $0.20 per ounce and was listed at $1,315.3 per ounce or $1,585 per tael. According to reuters.com, the spot gold was not too far from a two-month high of $1,325.90 last week. Reuters also said that the gain of 2.4 per cent by gold prices in the second quarter of the year after a rise of nearly 7 per cent in the previous quarter was helped by the violence in Ukraine and Iraq.
Thus, each tael of gold in Viet Nam was $166 higher than in the world market. The Bao Tin Minh Chau Jewellery and Gemstone Company, one of leading gold trading companies in Viet Nam, advised its clients to buy the yellow metal now as the prices were low, and predicted that they could rise in the coming days.
On June 30, the State Bank of Viet Nam kept the US dollar's exchange rate at VND21,246, unchanged from its new rate since June 19. The central bank also set the ceiling price for a dollar at VND21,458.5, which commercial banks were allowed to apply as an effective exchange rate, +-1 per cent.
In the morning session, most commercial banks of Vietcombank, BIDV and VietinBank ACB listed their buying rate of the US dollar at VND21,280 and VND 21,300, and the selling rate between VND21,350 and VND21,360.
In the flea market, the US dollar's buying and selling rates were VND21,320 and VND21,350 respectively.
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