Bullion price retreats to VND33.7 million per tael

The price of gold in Vietnam made correction in the morning of March 15 as global price dropped drastically prior to the US Federal Reserve’s policy meeting.
Accordingly, spot gold lost nearly US$20 per ounce to $1,228.5 per ounce in Asia’s market. As a result, domestic bullion price fell by VND250,000-260,000 per tael (1.2 ounces), depending on brand name.
Saigon Jewelry Company bought gold at VND33.4 million and sold at VND33.7 million per tael, a decrease of VND260,000 per tael compared to the previous day.
In Hanoi, Phu Quy Company and Doji Gold and Gems Group both purchased gold at VND33.5 million and sold at VND33.7 million per tael.
Global gold price is currently VND600,000 per tael lower than domestic gold price.
On foreign currency market, the State Bank of Vietnam announced central US exchange rate at VND21,872 per dollar, up VND13 per dollar over the previous day.
This morning, Vietcombank and BIDV both fixed US dollar exchange rate at VND22,260 for buying and VND22,330 for selling, unchanged as of yesterday.
Vietinbank collected dollars at VND22,255 per dollar and sold at VND22,325 per dollar. Meanwhile, Eximbank also kept its dollar exchange rate unchanged at VND22,240 for buying and VND22,320 for selling.

By Huong Giang – Translated by Thuy Doan

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