Nov 11: Vietnam gold falls to vnd46.2mln/taael, dollar stable

Vietnam gold lost VND0.10 million from yesterday close to VND 46.20million/tael this morning, following the suit of world gold while local dollar prices were still kept at VND20,803, unchanged for 2 weeks.

SJC Hanoi quoted at VND46.050 million/tael for bid, and VND46.270 million/tael for bid and ask, respectively as of 9: 24 Hanoi time.

SJC in the free market was listed at VND45.970-46.250 million/tael for bid and ask, respectively.

Sacombank-SBJ gold prices were listed at VND45.800-VND46.100million/tael for bid and ask, respectively.

Rong Thang Long gold, a product of Bao Tin Minh Chau company,was trading at VND45.800 million/tael and VND46.200 million/tael for bid and ask, respectively.

Global Markets: Gold Settles Down Both in New York And Asia Trades

In New York trade last night, gold was down to settle at $1,759 an ounce as the Italy worries eased.

Spot gold fell 0.5% to $1,760.59 an ounce. U.S. gold futures for December delivery fell $32.00 to settle at $1,759.60 an ounce.

In Asia trade this morning, Kitco quoted spot gold at $1762.90-1764.10/ounce for bid and ask, respectively by 9:34 am.

Italy is making an effort to ease the political turmoil, moving closer to a national unity government, following Greece’s lead.

Local Dollar Stable

Vietnam’s central bank kept dollar midpoint rate unchanged at VND20,803 from Oct 28.

Commercial banks also kept their dollar prices quote unchanged, selling dollar at the ceiling VND21,011 and buying dollar at VND20,990- 21,006.

The central bank also issued a series of legal documents to tighten the forex market and commercial banks were reported to adjust down the dollar exchange rates.

Source TEI/StoxPlus

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