Vietnam gold price falls freely 5pct to 45m dong/tael

26-Aug-2011 Intellasia | Vietbiz24 | 7:01 AM Print This Post

The domestic gold price today fell freely to 45 million dong/tael, losing 5 percent compared to yesterday, following the biggest single-day dollar loss since 1980 at over $100/ounce.

At 8:15 Hanoi time, Sacombank-SBJ gold was listed at 45.21 million dong/tael and 45.49 million dong/tael for bid and ask, respectively, falling 2.2 million dong a tael from yesterday morning.

SJC gold price in HCM City was listed at 45.15 million dong/tael and 45.55 million dong/tael for bid and ask, respectively falling 2.1 million dong a tael from yesterday.

SJC gold price in Hanoi is being traded at 45.10 million dong/tael and 45.52 million dong/tael for bid and ask, while in HCM City, SJC gold was listed at 45.10 million dong/ tael and 45.50 million dong/tael for bid and ask respectively.

Gold prices are being adjusted by every minute. Sometimes, the price of gold fell 2.4 million dong/tale, losing the 45 million dong threshold for bid. Despite a fall of 2 million dong/tael, domestic gold prices are still $50/ounce higher than the global ones.

Vietnam’s central bank and big local gold traders have been working together in an effort to reduce this gap and to get price parity between the two markets.


Category: Finance

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