Saigon Jewelry Co. bought gold at VND28.07 million and sold at VND28.15 million as of 1:40 pm local time.
At Sacombank Jewelry Co., the metal was bought at VND28.1 million and sold at VND28.13 million.
The US dollar exchange rate remained stable below VND19,000. On free market, a dollar was bought at VND18,970 and sold at VND18,990. State-owned Vietcombank fixed dollar exchange rate at VND18,950 for buying and VND18,990 for selling.
Globally, the precious metal fluctuated around US$1.230 an ounce. Most investors sold gold to take profits after a sharp rise. However, selling pressure failed to make the metal to plunge further.
Spot gold fell as much as $3.9 an ounce, or 0.3 percent, to close at $1,231.5 in New York last night. Earlier, the metal approached $1,240 an ounce.
Concerns that Europe’s financial turmoil will be prolonged boosted the demand for the precious metal as a store of value.
Asian investors promoted buying as the metal dropped last night, helping green return to bullion market.
Spot gold rose by $2 an ounce to $1,233 an ounce as of 9:45 am in Asia.
The euro exchange rate slid to below $1.23 after Spain’s central bank said it would check financial ability of banks in the country.
Spain plans to sell as much as 3.5 billion euro ($4.3 billion) of 10- and 30-year bonds as the yield on the country’s benchmark 10-year bond has risen to the highest in almost eight years.
Crude oil futures for July delivery rose $0.73 a barrel to $77.67 a barrel.
In Asia, crude oil dropped to nearly $77 a barrel this morning