Gold, dollar wanes

Price of gold in Vietnam slid slightly over last weekend on July 16 as global price opened week on losing trend.

Saigon Jewelry Company, Vietnam’s biggest gold processer and trader, bought the metal at VND41.69 million and sold at VND41.84 million as of 11am Vietnamese time.

Hanoi-based Phu Quy Jewelry Company purchased SJC-brand gold at VND41.78 million and sold at VND41.86 million as of 11am Vietnamese time.

Bao Tin Minh Chau Jewelry Company quoted price at VND40.25 million for buying, and at VND40.55 million for selling at 11.10am Vietnamese time.

Domestically, gold fetched VND1.85 million a tael higher than global price.

On free market, the US dollar was bought at VND20,880 per dollar, and sold at VND20,900 per dollar, unchanged as of last weekend.

Meanwhile, Vietcombank quoted the rate at VND20,845 per dollar for buying, and at VND20,875 per dollar for selling, down VND5 per dollar in buying price, and VND10 per dollar in selling price over last Friday.

Eximbank purchased dollars at VND20,820 per dollar, and sold at VND20,890 per dollar, a decrease of VND10 per dollar in buying price over last Friday.

Internationally, gold edged down ahead of the US Federal Reserve chairman Ben Bernanke’s presentation in front of Congress on his bi-annual monetary policy report as investors turned to wait-and-see mode.

In Asia, gold for immediate delivery slipped $3.1 an ounce to trade at $1,587.3 an ounce at 10.15am Vietnamese time.

Euro exchange rate against the US dollar remained above $1.22 a Euro in Tokyo this morning.

Crude oil futures for August delivery fell $0.37 a barrel to trade at $86.73 a barrel at 10.20am Vietnamese time.

By Thuy Doan

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