Vietnam gold price drops to below 46.7m dong

In the morning September 20, the local gold price dropped 250,000-550,000 dong per tael to 46.68 million dong per tael (selling) from yesterday, according to the local newswire VietBiz24.com.
In comparison with Sept. 19′s morning, Vietnam’s gold price declined 600,000-700,000 dong per tael.

The SJC-branded gold price in Hanoi market was traded at 46.45-46.67 million dong/tael (buying – selling), down 400,000 dong/tael day from late yesterday and down 600,000 dong/tael from yesterday morning.

The gap between the buying and selling prices at jewellery companies was 220,000-580,000 dong/tael.

Although Vietnam’s gold price has decreased significantly, the gap between local and world gold prices is still 1.8 million dong per tael.

In related news, on September 20, the State Bank of Vietnam (SBV) allowed 10 firms and banks to import about four tonnes of gold in a bid to bring down the soaring gold prices.

The gold is expected to arrive in Vietnam on September 21.

(US$1 = 20,830.00 dong)

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

Posted by VBN on Sep 21 2011. 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