Gold price up VND9.51Mln /tael in 2010

In the last trading session of 2009, the SJC gold price stood at 26.51-26.61 million dong per tael (buying and selling price). The SBJ gold price at Sacombank stood st 26.36-26.55 million dong per tael.

In the last trading session of 2009, the SJC gold price stood at 26.51-26.61 million dong per tael (buying and selling price). The SBJ gold price at Sacombank stood st 26.36-26.55 million dong per tael. The Thang Long gold price at Bao Tin Minh Chau was at 26.5-26.6 million dong per tael.

The dong/US dollar foreign exchange rate in the last trading session of 2009 was at 19,100 dong-19,200 dong per US dollar.

At the end of Q1, 2010, the SJC gold price was traded at 26.13-26.19 million dong/tael (buying-selling prices), the SBJ gold price at Sacombank was at 26.08-26.12 million dong/tael and the Thang Long gold price at Bao Tin Minh Chau was at 26.05-26.15 million dong/tael.

At the end of Q2, 2010, the SJC gold price was traded at 26.13-26.19 million dong/tael (buying-selling price), SBJ gold price at Sacombank at 26.08-26.19 million dong per tael and the Thang Long gold price at Bao Tin Minh Chau was at 26.05-26.15 million dong per tael.

The impressive trading session on February 5, 2010 saw a strong fall of gold price by 1.5 million dong per tael after only one night due to the State Bank of Vietnam (SBV) required large firms to increase the gold supply.

However, the gold price decreased for only three days because of the strongly increasing purchasing power and the gold price regained 26.48 million dong per tael on February 11.

The FX rate on February 11, 2010 also surged to 19,800 dong per US dollar.

At the end of Q3, 2010, the SJC gold price was at 31.21-31.25 million dong/tael (buying-selling prices), the SBJ gold price at 26.08-26.12 million dong/tael, and the Thang Long gold price at Bao Tin Minh Chau at 26.05-26.15 million dong/tael. The FX rate was at 19,640-19,690 dong per US dollar.

At the end of Q4, 2010, the chaos on the gold market started as of November 8, 2010. In the historic trading session November 9, the gold price touched the peak at 37-37.04 million dong/tael for SBJ gold price and it was 36.5-37.02 million dong per tael for SJC gold price and the Thang Long gold price at 36.9-37.3 million dong per tael. Eelier, the gold price established a new threshold of 38.2 million dong per tael.

The FX rate in Hanoi was at 21,000-21,200 dong per US dollar (buying-selling price).

On the same period in 2009, on November 11, 2009, the gold price also made a record at 29 million dong per tael. In the noon of November 11, 2009, the central bank announced allowing gold import and the gold price slipped to below 25 million dong per tael.

Closing the trading session on December 30, 2010, the SJC gold price was at 36.04-36.12 million dong per tael.

Thus, in comparison with 2009, the SJC gold price surged 9.53-9.51 million dong per tael (buying-selling prices).

The SBJ gold price, at the time of closing trading session on December 30, 2010, was at 36.07-36.1 million dong per tael.

The FX rate in Hanoi market was at 20,980-21,080 dong/US dollar, up 1,880-1,880 dong/US dollar against the end of 2009. – CafeF

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