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Local gold prices fall
The Saigon Times
Thursday,  Mar 26, 2020,18:41 (GMT+7)

Local gold prices fall

The Saigon Times

Customers shop at a local jewelry store. Domestic gold prices slid by some VND200,000 to hover at roughly VND47 million per tael today, March 26 - PHOTO: VNA

HCMC – Domestic gold prices slid by some VND200,000 to hover at roughly VND47 million per tael today, March 26, reported the local media.

At 10 a.m., Saigon Jewelry Company (SJC) quoted its gold price at VND46.65 million per tael for buying and VND47.35 million for selling, down approximately VND250,000 per tael over the previous session.

In the capital city of Hanoi, Doji Group bought SJC-branded gold at VND46.5 million per tael and sold it at VND47.1 million per tael.

The price of the yellow metal was constantly adjusted in the morning, seesawing between VND47 million and VND47.3 million per tael for selling.

The domestic gold price lost steam following the downward trend of the global gold price, which dropped by over US$20 per ounce versus the previous session to stay at US$1,601 as of 10 a.m. today.

Given the current dong-U.S. dollar exchange rate, the world gold price is some VND45.7 million per tael.

On the forex market, the State Bank of Vietnam posted the central reference exchange rate between the dong and the U.S. dollar at VND23,245, declining VND5 per dollar against the previous session.

Meanwhile, the U.S. dollar at local commercial banks was commonly priced at VND23,540 for buying and VND23,700 for selling, up by VND25 per dollar compared with the previous session.

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