Gold remains below VND37 million

The price of gold in Vietnam stayed below VND37 million a tael (1.2 ounces) on March 28 as global price declined in the trading session this morning.

Sacombank Jewelry Company bought the metal at VND36.82 million and sold at VND36.9 million as of 10:25 am local time.

Saigon Jewelry Company, the biggest gold shop in Vietnam, purchased gold at VND36.8 million and sold at VND36.91 million at the same time.

Meanwhile, Hanoi-based Phu Quy Jewelry bought SJC-brand gold at VND36.8 million and sold at VND36.9 million as of 11:20 am local time.

Domestically, gold dropped VND100,000 a tael over the last weekend.

Internationally, gold for immediate delivery stood at $1,425.2 an ounce at 11:10 am Vietnamese time. Earlier, the metal plunged to below $1,420 an ounce.

However, most analysts expected that the precious metal would resume gains this week as the European debt crisis, radiation leak in Japan, and war in Libya are still the main factors that urge investors to buy gold.

On the foreign exchange market, the interbank US dollar exchange rate quoted by State bank of Vietnam was at VND20,693 per dollar, the highest level since February 17.

State-owned Vietcombank bought the greenback at VND20,895, and sold at VND20,900.

By An Nam

Other news