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Sacombank-SBJ gold prices were listed at VND44.42-VND44.57 million/tael for bid and ask, respectively.
Rong Thang Long gold, a product of Bao Tin Minh Chau company was trading at VND43.3 million/tael and VND43.6 million/tael for bid and ask, respectively.
Local gold premium soared to VND2.3 million/tael. However, this time, local dollar prices looked stable despite the spread.
Spot gold breaks 200-day moving average
Comex gold extended its losses after a Federal Open Market Committee policy statement alluding to some improvement in the economy, and the prices fell through the 200-day moving average ($1,680.60), triggering sell stops, Kitco quoted Charles Nedoss, senior market strategist with Olympus Futures as saying. Nedoss said the next key support area is around $1,660.
In Asia trade this morning, gold extended loss by1% on selling pressure. Spot gold was at $1677.2/ounce as of 11:10 Hanoi time, while April futures traded at $1677.6/ounce
Local Dollar Stable
Vietnam’s central bank kept dollar midpoint rate to VND20,828 on Wednesday, stable for over 4 months. Commercial banks quoted dollar offer at VND20,790-20,850 for bid and ask at the two extremes.
If Vietnam has to raise dollar exchange rate this year, it will not exceed 2-3%, the State Bank governor reconfirmed at a press conference yesterday.