Gold prices fall in domestic market

Gold prices dropped in the domestic market on February 22.

People shop for gold jewellery at a Bao Tin Minh Chau Jewellery and Gemstone Company store in Hanoi (Photo: VNA)

At 4pm, DOJI Hanoi listed the buying and selling prices of gold at 33.25 million VND (1,484 USD) and 33.35 million VND (1,488 USD) per tael, respectively, a decrease of 270,000 VND (12.05 USD) compared to the previous day's closing rate.

At Saigon Jewellery Company Limited, the buying and selling prices of one tael of gold were 33.12 million VND (1,478 USD) and 33.44 million VND (1,492 USD), 180,000 VND (8.03 USD) and 230,000 VND (10.26 USD) lower than February 22's rate, respectively.

According to DOJI, the gold market last weekend was quieter than the previous days.

There was a fair balance in the number of customers buying and selling gold.

Reuters said gold extended losses below its 12-month high on February 22 as the dollar and equities strengthened, but the metal remained underpinned above 1,200 USD an ounce as caution in financial markets prompted investors to channel money into bullion.

On the global trading website, gold prices declined slightly from February 22's rate by 17 USD, or 1.39 percent, to touch 1,217.2 USD per ounce, or 1.205 per tael.


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