Gold, dollar bounce back

After declining for a long time, the price of gold in Vietnam rebounded on November 16 as global price recovered, possibly because investors increased buying gold to prevent risks after terror attacks in Paris last week.
Saigon Jewelry Company bought gold at VND33.26 million per tael (1.2 ounces) and sold at VND33.49 million per tael.
Doji Gold and Gems Group purchased SJC’s gold at VND33.4 million per tael, and sold at VND33.46 million per tael.
Both gold traders raised VND140,000 per tael in buying rate and VND150,000 per tael in selling rate compared to that in last weekend. As gold price fluctuated wildly during the day, the gap between buying and selling rates was widened to VND230,000 per tael in Ho Chi Minh City.
The US dollar exchange rate strongly rose by VND40-50 per dollar compared to that in previous week. Asia Commercial Bank offered the highest selling rate of VND22,510 per dollar, about VND310 per dollar higher than that on October 9 when the Circular 15 about regulations on foreign currency trading became effective.

By Nhung Nguyen – Translated by Thuy Doan

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