Gold declines by VND1.35 million per tael

The price of gold in Vietnam lost nearly VND1.4 million per tael compared to the previous day on August 19, whereas the global gold price increased.

Saigon Jewelry Company bought gold at VND55.45 million per tael and sold at VND56.85 million per tael, a decrease of VND1.05 million per tael in buying rate and VND1.3 million per tael in selling rate compared to the previous day, at 4 p.m. in Ho Chi Minh City.

At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company listed the price of SJC gold at VND55.85 million per tael for buying and VND56.85 million per tael for selling, down VND1.1 million per tael in buying rate and VND1.35 million per tael for selling.

In the global gold market, spot gold traded at US$1,991 an ounce on the Kitco trading floor in the afternoon Vietnamese time, an increase of $10 an ounce compared to the closing price of the previous trading session. After conversion, this price level was equal to VND55.8 million per tael, lower than the domestic gold price by about VND1 million per tael.