Vietnam’s gold prices remain higher than global trend

Vietnam’s average gold price closed at 46.77 million Vietnamese dong (VND) (2,245 U.S. dollars) a tael, equivalent to 1.2 ounces on Friday, a decrease of 500,000 VND (24 U.S. dollars) a tael against the previous trading session.

In the capital city Hanoi, the DOJI gold trading company quoted buying gold price at 46.57 million VND (2,235 U.S. dollars) a tael on Friday and selling gold price at 46.77 million VND (2,245 U.S. dollars) a tael, a decrease of 300,000 VND (14.4 U.S. dollars) and 500,000 VND (24 U.S. dollars) respectively against the previous day.

Meanwhile, most gold shops in the country’s southern Ho Chi Minh City quoted buying gold price at 46.57 million VND (2,235 U.S. dollars) a tael and selling gold price at 46.75 million VND (2,244 U.S. dollars) a tael on Friday, a decrease of around 500,000 VND ( 24 U.S. dollars) against previous trading session.

During the week, domestic gold prices fell down along with global gold prices, but in a slower speed, thus maintaining a large gap of up to 2 million VND (96 U.S. dollars) per tael higher than the global price.

Global gold price fell down at a point to 1,731 U.S. dollars per ounce on Thursday, the lowest level since August 26, however still posted an increase of 25 percent so far this year. It made a high record of 1,923.7 U.S. dollars per ounce on September 6. Insiders said that the decrease was attributed to the U.S. FED’s decision to spend a package of 400 billion U.S. dollars for the long-term bonds, and also due to positive signs of the U.S. economic growth.

1 2

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

Posted by VBN on Sep 24 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