People buy gold in HCMC. (Photo: SGGP)
The world bullion price plummeted after the decision of the Fed, dragging down the domestic gold price by VND400,000-500,000 per tael compared to the previous day.
At 4 p.m., Mi Hong Company in Ho Chi Minh City quoted SJC gold price at VND65.9 million per tael for buying and VND66.7 million for selling, down VND500,000 in both buying and selling rates. At the same time, in Hanoi, PNJ Company bought SJC gold at VND65.8 million and sold it at VND66.6 million, down VND400,000 dong in both buying and selling rates.
On the world gold market, the precious metal closed at US$1,808.8 an ounce, down $2.7 an ounce in New York on the night of December 14. On the afternoon of December 15 (Vietnam time), the spot gold price on the Kitco floor fell by $30 from the closing price in New York to $1,778 an ounce. This price after conversion is equivalent to VND49.92 million per tael, nearly VND16.7 million per tael lower than the domestic gold price.
Although the Fed's interest rate increase level was the same as previously forecast, the slight increase in the dollar's price put pressure on the gold price, making it unable to hold the $1,800-an-ounce mark.
At 4 p.m., Mi Hong Company in Ho Chi Minh City quoted SJC gold price at VND65.9 million per tael for buying and VND66.7 million for selling, down VND500,000 in both buying and selling rates. At the same time, in Hanoi, PNJ Company bought SJC gold at VND65.8 million and sold it at VND66.6 million, down VND400,000 dong in both buying and selling rates.
On the world gold market, the precious metal closed at US$1,808.8 an ounce, down $2.7 an ounce in New York on the night of December 14. On the afternoon of December 15 (Vietnam time), the spot gold price on the Kitco floor fell by $30 from the closing price in New York to $1,778 an ounce. This price after conversion is equivalent to VND49.92 million per tael, nearly VND16.7 million per tael lower than the domestic gold price.
Although the Fed's interest rate increase level was the same as previously forecast, the slight increase in the dollar's price put pressure on the gold price, making it unable to hold the $1,800-an-ounce mark.
