Gold retreats to VND58.28 million per tael

SGGP
After declining by nearly VND2.5 million per tael at the end of last week, the price of gold in Vietnam rebounded to VND59.65 million per tael then dropped sharply again on August 10.
Saigon Jewelry Company listed the price at VND56.65 million per tael for buying and VND58.28 million per tael for selling at 4.30 p.m. in Ho Chi Minh City, a decrease of more than VND1 million per tael compared to that in the early morning.

At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company bought SJC gold at VND56.3 million per tael and sold at VND57.7 million per tael, down VND1.6 million per tael in buying rate and VND1.9 million per tael in selling rate compared to last weekend. 

In the global gold market, gold was traded around US$2,030 an ounce, down by more than $2 an ounce compared to the closing price last weekend. After conversion, this price level was equal to VND56.9 million per tael. Experts said that the global gold price halted its record increasing momentum because the US dollar strengthened again after President Donald Trump signed a decree banning US transactions with TikTok and WeChat.

By Nhung Nguyen – Translated by Bao Nghi

Other news