The price of gold in Vietnam recouped the VND41 million per tael mark on October 2 as global recovered after declining for several trading sessions due to a weakening US dollar.
The Vietnam’s stock market extended winning streak to a third consecutive trading session on August 30 whereas the price of gold in Vietnam slid by VND300,000 per tael (1.2 ounces) as global bullion price cooled down.
The price of gold in Vietnam retreated from the recently-made record high of VND43 million per tael (1.2 ounces) on August 27 as global bullion price failed to maintain at a more-than-six-year high.
The price of gold in Vietnam plummeted by nearly VND1 million per tael (1.2 ounces) over the previous day on August 14 as global gold price fell off US$1,500 an ounce.
Thanks to rising momentum in global gold price, the price of gold in Vietnam continued to advance by nearly VND300,000 per tael to VND42.5 million per tael in the morning on August 9 then cooled down to just above VND42 million per tael.
Global gold price continuously hit record, sending the price of gold in Vietnam to above VND42 million per tael, the highest level in the past six years. On the market, selling trend was taking the upper hand but there was no sudden change.
The price of gold in Vietnam soared VND800,000 per tael (1.2 ounces) to nearly VND41.7 million (US$1,796.63) per tael on August 7 as global gold price neared $1,500 an ounce.
The price of gold in Vietnam jumped to VND41 million (US$1,762.38) per tael (1.2 ounces) on August 6 as global bullion price hit six-year highs due to increasing safe-haven demand amid escalating trade war between the US and China.
The price of gold in Vietnam fell by nearly VND500,000 per tael (1.2 ounces) on August 1 as global gold price plummeted after the US Federal Reserve decided to cut interest rate of the US dollar by 0.25 percent to 2-2.25 percent per annum due to low inflation pressure and impacts caused by movements in the world after its two-day meeting at the end of July.
The price of gold in Vietnam rocketed to VND39 million per tael (1.2 ounces) on June 21, the highest level in the past six years, after global bullion price hit US$1,400 an ounce.
