Currently, closing the last trading session of last week in New York market, the world gold price ranged around $1,065 per ounce. If converting into domestic gold price (basing on the forex rate of 18,450 dong per US dollar) including import tax and other expenditures, the gold price will be 24 million dong per tael.
Meanwhile, the domestic trading gold price, on February 7 closed at 25.5 million dong per tael, difference of about 1.5 million dong per tael compared with the world price.
According to information on Tuoi Tre (Youth) newspaper, State Bank of Vietnam (SBV)'s governor, Nguyen Van Giau has advised people should not buy gold now.
Giau said that the central bank will support enough foreign currency for Saigon Jewellery Co (SJC) to import gold till the domestic gold price equals the world gold price.
According to Tuoi Tre newspaper, the domestic gold price after falling strongly on February 5, recovered by 300,000 dong per tael on February 6 to 25.3 million dong per tael, and it was 25.5 million dong per tael on February 7 due to the world gold price regained $20 per ounce.
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