VINACHEM

This morning, Vietnam gold edged up by VND50,000/tael versus last weekend close to VND36.32 million per tael. World gold eased in Asia trade this morning but still held above $1,252/ounce.

As of 11:15 am today, Hanoi time, SJC Hochiminh was traded at VND36.20 million/tael for bid and VND36.32 million/tael for ask, respectively.

SJC in the North quoted at VND36.20 million/tael for bid and VND36.34 million/tael for ask.

Techcombank gold prices were listed at VND3620 -VND36.30 million/tael for bid and ask, respectively.

Domestic gold premiums stood high at VND4.43 million/tael higher than the world gold price based on Vietcombank’s today rate ($1=VND21,210), higher than VND4.16 million/tael distance of last Friday morning.

World Gains in Both New York and Asia

World gold was little changed this morning in Asia trade, hovering above $1,252/ounce for both bid and ask, respectively after U.S. jobs data matched expectations, while a rally in stocks curbed the metal’s appeal as an investment hedge.

In Asia trade this morning, gold was traded at $1,251.90 /ounce for bid and $1,253.00/ounce, respectively as of119:15 am, Hanoi time.

U.S. employment returned to its pre-recession peak in May, with a solid pace of hiring that offered confirmation the economy has snapped back from a winter slump. Nonfarm payrolls increased 217,000 last month, the Labor Department said on Friday.

With no major data scheduled for Monday, markets are likely to look towards investment and consumer demand for further cues.

Gold Prices Seen Lower This Week

According to the Kitco’s news survey, 22 out of 33 participants including bullion dealers, investment banks, futures traders and technical chart analysts responded, of those 7 saw prices up, 12 saw prices down and 3 saw prices sideways or unchanged.

Dollar Stable

Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Monday, unchanged for more than 11 months.

Today, some commercial banks raised, some lowered and some kept dollar prices unchanged, offering at VND21,130-21,185/dollar for bid and VND21,210-21,240/dollar for ask, respectively.