Gold prices below VND36 million/tael

The average domestic price of gold on November 12 reduced sharply to VND35.98 million/tael, down VND270,000/tael compared to transaction the previous day.

At 3.15pm, in Bao Tin Minh Chau Company, gold prices was listed at VND 35.80-35.98 million/tael, decreasing by VND170,000/tael against November 12 morning.

Since reaching the highest peak of VND 38.3 million/tael on November 9, the price of gold has reduced by VND2.2 million/tael. Then, the State Bank of Vietnam allowed businesses to import gold. So far, gold prices have decreased consecutively each day. However, gold prices still stand at high levels, having raised by VND4,650,000/tael compared to early October.

Together with decreasing gold prices, the USD/VND exchange rate in free market is gradually reducing. In the last three days, in the free market, it was bought at VND19,800-19,950 per US dollar and sold at VND21,000-21,020 per US dollar. It showed a decrease of VND40 per US dollar.

Tags: vietnam gold, Vietnam gold market, Vietnam gold prices

Posted by VBN on Nov 12 2010. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry