Gold bullion price falls on God of Wealth Day

Bullion gold price reduced VND750,000 a tael on the God of Wealth Day, which is the tenth day of the lunar new year and fell on February 6th, when many people have been in the tradition of buying some gold for good luck and prosperity throughout the year.

Fortune seekers queue for buying gold at SJC jewelry trading center in Nguyen Thi Minh Khai street, District 3, HCMC on February 6th (Photo: SGGP)
(Photo: SGGP)

Many citizens started the gold purchase on the previous day to avoid hustle as in previous years, according to large shops in HCMC. Meantime, businesses in the city reported that the number of buyers of lucky handicraft gold products in different sizes and shapes highly surged while SJC gold bars demand reduced, forcing businesses to lower the bullion price.
 
Early in the morning, buying and selling prices surged to VND37.2 million per teal and VND37.75 million but subsequently dropped by VND350,000-600,000 a teal at 9:30 a.m.
 
At 3 p.m. on the same day, SJC gold bullion price was at VND36.4 million for buying and VND37.25 million for selling, down VND850,000 and VND400 million compared to Saturday afternoon.

By Nhung Nguyen – Translated by Hai Mien

Other news

Most view

Banking-finance

Economy

Committee reviews marine economy

The National Assembly (NA) Standing Committee yesterday reviewed the development of the marine economy along with national defence and security in 2011-16.
 

Self - introduction

Stock market

SMC buys 2mln shares of Nam Kim Steel

SMC Investment & Trading JSC (SMC)'s shareholders have approved plan to buy 2 million shares of Nam Kim Steel Corp (NKG), priced at VND 27,000 per share in September.