Vietnam gold recovers to above 43 million dong a tael on Oct. 21

The price of gold in Vietnam recovered to above 43 million dong per tael (1.2 ounces) on October 21 although global price retreated for four consecutive trading sessions.
Sacombank Jewelry Company bought gold at 43.01 million dong and sold at 43.44 million dong as of 9:30 am local time.

Saigon Jewelry Company, the biggest gold shop in Vietnam, quoted the price at 43.05 million dong for buying and 43.35 million dong for selling.

Hanoi-based Phu Quy Jewlery Company purchased SJC-brand gold at 43.25 million dong and sold at 43.55 million dong at the same time.

Domestically, gold fetched 2.5 million dong a tael higher than global price.

The interbank exchange rate climbed 10 dong per dollar over the previous day to 20,748 dong per dollar, the eleven times this month. Vietcombank bought dollars at 20,950 dong, and sold at 20,955 dong. On black market, dollars were bought at 21,620 dong, and sold at 21,680 dong, an increase of 120 dong per dollar in buying price and 130 dong per dollar in selling price over the previous day.

Internationally, gold declined the fourth day, heading for the longest losing streak since January although US stocks markets, and the US dollar went down.

Gold futures for December delivery fell as much as $34.12 an ounce, or 2.1 percent, to close at $1,612.9 an ounce on the Comex in New York.

Spot gold was traded at US$1,628.75 an ounce, up 0.71 percent an ounce at 12:45 pm Vietnamese time.

Crude oil was traded at $86.54 a barrel on the New York Mercantile Exchange at 12:50 pm Vietnamese time.

The euro exchange rate against the US dollar was at $1.38 a euro in Tokyo at the same time.

Saigon Giai Phong

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