Gold, dollar tread water

Price of gold in Vietnam fluctuated around VND43.4 million a tael (1.2 ounces) on April 12 as global price remained unchanged as of the previous day.

Sacombank Jewellery Company bought gold at VND43.29 million and sold at VND43.37 million as of 9.55am Vietnamese time.

Saigon Jewellery Company, Vietnam’s biggest gold processer and trader, collected the metal at VND43.17 million and sold at VND43.37 million as of 9.35am Vietnamese time.

Hanoi-based Phu Quy Jewellery Company purchased SJC-brand gold at VND43.29 million and sold at VND43.39 million as of 10am Vietnamese time.

Bao Tin Minh Chau Jewellery Company quoted price at VND42.45 million for buying, and VND42.75 million for selling at 11.10am Vietnamese time.

Domestically, gold fetched around VND1.7 million a tael, higher than global price.

On free market, dollars were bought at VND20,820 per dollar, and sold at VND20,840 per dollar, unchanged from the previous day.

Meanwhile, Vietcombank continued to purchase the greenback at VND20,820 per dollar, and sell at VND20,870 per dollar.

Internationally, gold edged down after the US economy signaled new signs of recovery, sending investors into doubt about whether the US Federal Reserve offered more monetary easing.

Gold for immediate delivery capped a four-day rally, losing as much as $0.9 an ounce to close at $1,660.7 an ounce in New York.

In Asia, gold continued marching south this morning. Spot gold lost $1.4 an ounce to trade at $1,659.3 an ounce at 10.20am Vietnamese time.

The euro exchange rate against the US dollar was above $1.31 a euro in Tokyo this morning.

Crude oil futures for May delivery traded at $102.63 a barrel, dipping $0.07 a barrel on the New York Mercantile Exchange at 10.25am Vietnamese time.

Investors will be watching a key auction of three-year Italian bonds, the weekly US unemployment claims data, US March producers price figures later in the day, as well as China economic growth data due on Friday, seeking clues on the global economy.

By Thuy Doan

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