After topping VND37 million per tael of 37.5 grams the day before, gold prices fell by VND500,000 on May 21.
|Bullion is down by VND500,000 in Vietnam on May 21 (Photo: C. Tuong)|
The buying and selling rates on the 21st at the Saigon Jewelry Co (SJC), Vietnam’s biggest producer, were VND36.48 million - VND36.68 million.
Globally, the precious metal gained slightly to reach US$1,295.3 an ounce [31 gm] but the spot delivery of gold in Asian markets fell to $1,294.4.
Vietnamese prices have always been higher, and with the rise in global prices the gap widened to VND3.6 million a tael at the Vietcombank exchange rate.