Gold Price on Feb 21 slips to VND10.57 million/Tael

On February 21, Saigon Jewelry Holding Co. (SJC) gold price stops at VND10.57 million a tael (1.3 ounce), down VND100,000 compared with that of the previous day.

On the global market, the gold price reaches US$555 an ounce, an increase of US$2.4 an ounce over Feb 19.

Fluctuation in the domestic gold prices during these days has resulted in less trade at many commercial banks as well as a hesitancy of local businessmen to import more gold.

Two thirds of the payments in the real estates are currently made by the Vietnamese currency VND as the soaring price of gold, which has been commonly used in Viet Nam to base property value, has frozen the realty market.

Reported by Trong Khuong

Other news