Gold prices rise again

The price of gold rose to nearly VND26.5 million/tael on March 15 after a sharp decrease last weekend.

Domestic gold prices at 10am stood at VND26.40-26.45 million/tael, up VND10,000-20,000 per tael compared to transactions over the weekend.

The atmosphere in big gold stores in Hanoi early this week seemed quiet with value being stable for more than a month.

In Hanoi, SJC gold was transacted at VND26.42-26.50 million/tael on March 15, while this gold was listed at VND26.40-26.46 million/tael in Ho Chi Minh City.

The price of domestic gold changed slightly because of the effect of the world’s gold prices and crude oil. At 10am on March 15, in the Asian market, the world’s price of gold reached nearly US$1,105 per ounce, up US$2 per ounce compared to closing time last weekend. Also, the world’s price of crude oil decreased to US$81 per barrel.

As a result, the exchange rate of USD/VND also fluctuated and remained at VND 18,544 per US dollar on March 15, as announced by the State Bank of Vietnam. In Hanoi’s free market, it stood at VND19,340-19,360 per US dollar.

Tags: Vietnam gold market, Vietnam gold prices

Posted by VBN on Mar 15 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