Gold slightly fluctuates – Apr 07

The price of gold in Vietnam faintly fluctuated on April 7 although global price continued making new record in the trading session in New York last night.

Sacombank Jewelry Company bought the metal at VND36.88 million and sold at VND36.94 million as of 8 am local time.

Saigon Jewelry Company, the biggest gold shop in Vietnam, purchased gold at VND36.85 million and sold at VND36.95 million at the same time.

Meanwhile, Hanoi-based Phu Quy Jewelry bought SJC-brand gold at VND36.84 million and sold at VND36.96 million as of 10 am local time.

Internationally, gold jumped to an all-time high as a weaker US dollar prompted investors to seek the metal as an alternative asset.

Gold futures for June delivery rose as much as $6 an ounce, or 0.4 percent, to close at $1,458.5 an ounce on the Comex in New York. Earlier, the metal touched $1,463.7 an ounce.

Gold for immediate delivery also advanced by $1.5 an ounce to $1,459 an ounce. In the trading session, the metal sometimes hit $1,461.91 an ounce or plunged to $1,450.6 an ounce.

In Asia, the metal sharply made correction as investors sold the metal to book profits this morning. Spot gold was traded at $1,456.3 an ounce as of 10:15 am Vietnamese time.

Crude oil futures for May settlement closed at $108.83 a barrel. Brent crude oil futures for May delivery surged to $122.2 a barrel.

Domestically, the interbank US exchange rate rose by VND5 per dollar to VND20,713.

Vietcombank bought the greenback at VND20,915, and sold at VND20,920. – SGGP

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