Gold prices dropped900,000 VND (43.2 USD) per tael compared to June 26 and by 2.8 millionVND (134.4 VND) from the end of last week.
In Ho Chi Minh City,gold at the Saigon Jewellery Company (SJC) was bought at 36 million VND(1,728 USD) per tael and sold for 36.6 million VND (1,756.8 USD) pertael.
Meanwhile in Hanoi, a tael of SJC gold was priced at 36.1million VND (1,732.8 USD) for buying and 36.6 million USD (1,756.8 USD)for selling.
At the same time in Europe, the metal was set at 1,238.4 USD an ounce.-VNA
The world spot gold price hit1,625.70 USD per ounce on the London Bullion Market, which was higherthan the previous record of 1624.07 USD on July 25. Most domestic gold shops tightened gaps between selling and buying prices. Phu Quy Group's gold shop on Tran Nhan Tong Street in Hanoi on July 27morning posted its buying and selling prices at 39.98 million VND and40.09 million VND per tael, respectively. Sacombank listed its prices at 39.99 million VND and 40.5 million VND at 5pm on July 27. An official from the Vietnam Agribank Gold Corporation JSC toldVietnam News that the new gold…... [read more]
A tael is equivalent to 1.2 ounces. The gold-selling districts in Hanoi and HCM City were throngedwith people and saw prices change at least four times in the morning,with Sai Gon Jewelry Co (SJC), Sacombank Jewelry Co, Bao Tin Minh Chau,Agribank Jewelry Co and Phu Nhuan Jewelry Co quoting buy/sell prices at32.85/33 million VND. Domestic gold prices haveincreased by over 24.4 percent since January, when prices stood at about26.5 million VND (1,360 USD). Sacombank Jewelrygeneral director Nguyen Ngoc Que Chi said on Oct. 6's rush of buyers wasdue to a large number of speculators who had bought futures contractsin prior…... [read more]
The domestic gold price on September 16climbed to a record high of 22.40 million VND (1,255 USD) per tael (1.2ounces) following an uptrend in global gold prices.On September 16, most gold shops in HCM City raised their price by380,000 VND (21.3 USD) over the September 15 price to 22.34 – 22.39million VND per tael.The global gold price on September 16 reached an 18-month high at 1,017USD an ounce on speculation that a global economic recovery would stokeinflation.The weakening of the greenback on the world market has also contributed to the gold price hike, analysts have said.Gold trading companies said most…... [read more]
Pressure on the international gold price is extremely high due to trust funds bartering away gold, while demand in major markets is not high. Gold prices are declining to the bottom within the last 4 years, but the Vietnam gold market maintains its unreasonably high price. Pressure of bargaining away gold Those who put their faith in the solid value of gold have to pay a pyrrhic price. Gold price has plunged sharply and shows no signs of recovery. In the last week of October, the price of gold in New York fell by 4.9 percent, setting the price of…... [read more]
Nhan Dan Online – The domestic gold price in Vietnam has rallied back after falling for the past two consecutive days to as close at VND38 million (US$1824) per tael. In Hanoi, a tael of SJC gold was priced as high as VND38.95 million (US$1,869.6) for buying and VND39.35 million (US$1,888.8) for selling as of 2h20 this afternoon. At the same time in Ho Chi Minh City, SJC gold was bought for as much as VND38.95 million (US$1,869.6) per tael and sold for VND39.37 million (US$1,889.76) per tael. This morning, domestic gold prices continued their downward trend from June 20…... [read more]
HA NOI (VNS)— Gold prices in the domestic market decreased sharply yesterday to less than VND46 million (US$2,190) per tael, falling to two-month low, bucking the world market's upward trend.Yesterday morning, the DOJI Group announced a selling price of VND46.12 million per tael ($2,196) (one tael is equivalent to 0.5oz) then lowering to VND45.95 million ($ 2,188). The Sai Gon Jewellery Company (SJC) price reduced VND320,000-440,000 per tael.In HCM City, the SJC gold price fell VND290,000 ($13.8) per tael to VND45.95 million ($2,288) yesterday morning. That was the first time domestic gold prices have fallen lower than VND46 million ($2,190)…... [read more]
In Hanoi, a tael of SJC gold was traded at VND12.62 million, up VND600,000/tael compared to Tuesday, while 3A sheet gold of the Ministry of Agriculture and Rural Development was offered at VND12.54 million/tael, up VND400,000. On the black market, gold prices also jumped to a record high of between VND12.61-VND12.65 million/tael. As a result, domestic gold prices are currently VND1 million higher than global prices, according to analysts’ calculations. Flocking to buy gold Mr Vinh said that in the past few days, his company had sold thousands of taels of gold every day. He assured customers that the…... [read more]
Specifically, gold prices listed by Bao Tin Minh Chau Jewellery Company were buying at VND 36.90 million/tael and selling at VND 37.01 million/tael, down VND 20,000 against the previous day.The Saigon Jewellery Holding Company (SJC) listed its buying and selling prices in Ho Chi Minh City at VND 36.95 and 37.02 million a tael, a decrease of VND 10,000 on the selling price.However, world gold prices rose again after falling for three consecutive days. The gold price for immediate delivery on April 13 increased to US$1,457.30 an ounce, up US$3.35 an ounce while gold for June delivery in New York…... [read more]
>> Domestic gold prices reach VND38 million/taelMeanwhile, gold prices in Ho Chi Minh City, Danang, Nha Trang and Can Tho were listed at VND37.91-37.98 million/tael. Gold prices in the Asian market on June 10 increased to US$1,543-1,544 per ounce. In New York market on June 9, gold prices rose sharply from US$1,536 per ounce to US$1,545 per ounce. The increase in gold prices was attributed to the rising prices of crude oil and cereals and low interest rates of the US dollar in transaction. The same day, the inter-bank exchange rate was fixed at VND20,623 per US dollar by the State…... [read more]
In an attempt to reduce the gold price, on Thursday the central bank organised an official gold auction with a total of 26,000 taels put on sale, twenty-one registered members took part. They were surprised as the central bank announced the floor price for the auction as VND43.81 million ($2,086) per tael, high compared with the market price of VND43.37 million per tael. At the same time, the global price fell by $3 to $1,602 per ounce. The result was that the auction drew only two buyers, Asia Commercial Bank (ACB) and Phu Quy Gold Investment. They purchased a total…... [read more]