HCMC – Domestic gold bar prices dropped by VND500,000 per tael this morning, July 23, in the wake of global market volatility, local media reported.
State-run commercial banks adjusted their gold bar selling prices down to VND79.5 million per tael today. One tael equals 37.5 grams or 1.2 troy ounces.
Saigon Jewelry Company (SJC) in HCMC set its gold bar buying price at VND77.5 million per tael and selling price at VND79.5 million per tael, down by VND500,000 compared to yesterday’s close.
Gold bar prices at other jewelry firms, such as Doji and PNJ, were also listed at VND77.5 million per tael for buying and VND79.5 million per tael for selling.
Meanwhile, the buying and selling prices of gold rings hovered around VND75.8 million and VND77.2 million per tael, respectively, which is VND2 million per tael lower than gold bars.
The decline in local gold prices is attributed to changes in the global market. The global gold price inched down by US$1 per ounce to US$2,399 per ounce, and at one point dropped to US$2,394 per ounce.
