Domestic gold continues retreat, falling to VND55 million per tael

Tuesday, 2020-08-11 16:03:27
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Domestic gold continues to retreat from the record high of VND62 million per tael.
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NDO - The prices of gold in Vietnam continues to slide and has fallen to about VND55 million (US$2,378) per teal after hitting a record high of VND62 million (US$2,680) last week.

In Hanoi, the precious metal was listed by SJC at VND53.63 million for purchase and VND55.55 million for sale as of 1h55pm on August 8, down about VND1.8 million per tael from opening prices that morning.

Compared with closing prices a day earlier, gold had already tumbled by VND2.7-3 million per tael.

At the same time, gold traded at Phu Quy fell to VND54.5-56.1 million per tael while Bao Tin Minh Chau listed the precious metal at VND54.1-55.6 million, all down sharply from yesterday.

On the global market, gold fell by 1% and dipped below the US$2,000 per ounce level, further retreating from last week’s record high of US$2,072.

Given the USD-VND exchange rates listed at Vietcombank today, domestic gold prices are currently equivalent to global prices.