HCMC – Domestic gold prices jumped by up to VND1.8 million per tael on November 11, extending their two-day rally to between VND3.1 million and VND3.6 million, while the U.S. dollar inched down slightly at commercial banks.

Asia Commercial Bank (ACB) raised SJC-branded gold bar prices by VND1.3 million per tael to VND150 million for buying and VND151.5 million for selling. Saigon Jewelry Company (SJC) revised up its prices by VND1.8 million per tael to VND150 million for buying and VND152 million for selling. Phu Quy Jewelry followed suit, quoting the yellow metal at VND149 million for buying and VND152 million for selling.

With this sharp rally, SJC gold has gained between VND3.1 million and VND3.6 million per tael in just two days, coming within VND2.6 million of its record high in late October.

Gold ring prices also rose. SJC increased its ring gold prices by VND2 million per tael to VND147.3 million for buying and VND149.9 million for selling, while Phu Quy raised prices by VND1.8 million to VND149 million and VND152 million per tael, respectively.

On the global market, gold added another US$20 per ounce to US$4,136. Over the past 30 days, the precious metal has gained US$93 per ounce, or 2.3%, and surged US$1,460, or 55%, year-on-year.

The State Bank of Vietnam (SBV) kept the central exchange rate unchanged at VND25,106 per U.S. dollar. Within the trading band of 5% on either side of the central exchange rate, the ceiling rate stood at VND26,361 and the floor rate at VND23,851 per dollar.

At 8:40 a.m. the same day, Vietcombank quoted the greenback at VND26,113–26,373 (buy/sell), down eight dong on both sides from November 10. BIDV maintained its buying rate at VND26,120 and cut its selling rate by VND12 to VND26,373 per dollar.