Gold edges down marginally

Price of gold in Vietnam made small correction on June 25 although global price edged up slightly at the trading session this morning.

Saigon Jewelry Company, Vietnam’s biggest gold processer and trader, bought the metal at VND41.65 million and sold at VND41.8 million as of 10.10am Vietnamese time.

Hanoi-based Phu Quy Jewelry Company purchased SJC-brand gold at VND41.69 million and sold at VND41.8 million as of 10.55am Vietnamese time.

Bao Tin Minh Chau Jewelry Company quoted price at VND40.35 million for buying, and at VND40.65 million for selling at 12.20pm Vietnamese time.

Domestically, gold fetched VND2.1 million a tael, higher than global price.

Bullion market remained muted this morning. Last week, the heavy metal sank by nearly VND500,000 per tael but trading has not improved.

On free market, the US dollar was bought at VND20,930 per dollar, and sold at VND20,950 per dollar, up VND10 per dollar over last Friday.

Meanwhile, Vietcombank and Eximbank both bought the greenback at VND20,880 per dollar, and sold at VND20,940 per dollar, unchanged from last Friday.

Internationally, gold struggled to maintain weak rising momentum at the trading session this morning.

In Asia, gold for immediate delivery rose $1.1 an ounce to trade at $1,574.4 an ounce at 9.40am Vietnamese time.

Euro exchange rate against the US dollar was above $1.25 a Euro in Tokyo this morning.

Crude oil futures for July delivery traded above $80 a barrel this morning from $79.79 a barrel last Friday.

By Thuy Doan

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