Gold rebounds from ten-month low

The gold price in Vietnam slightly recovered to near VND35 million a tael (1.2 ounces) on November 7 after plummeting to a ten-month low on the previous day.
 
Saigon Jewelry Company bought gold at VND34.86 million and sold at VND34.98 million a tael as of 9.46 am Vietnamese time. Yesterday, the price sank to VND34.95 million per tael.
 
Domestic gold price rebounded due to a hike of US$1.3 an ounce in global price to $1,141. In addition, according to gold traders, stronger buying demand also boosted the price. Phu Nhuan Jewelry Company recorded a total trading volume of 300 taels of gold yesterday, of which selling volume accounted for 65 percent.
 
On the currency market, banks were still trading US dollar at high rate. Vietcombank bought dollars at VND21,270 and sold at VND21,330.

By Thuy Doan

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