The Vietnam stock market in the first trading session of the week on January 24 was quite negative when investors dumped stocks heavily. Foreign investors also net sold about VND220 billion on the HoSE.
The Covid-19 pandemic remains complicated and significantly affects the economy. In the context that the Government loosens the monetary policy, and the bank interest rates are still on a downward trend, which lucrative investment channel will investors opt for?
The global gold prices continued to decline further, dragging the price of gold in Vietnam to plummet by more than VND1 million per tael compared to the late afternoon of the previous day on November 25, falling off the VND55-million-per-tael mark.
Along with the losing trend of the global gold prices, the price of gold in Vietnam fell by VND650,000 per tael compared to the late afternoon of the previous day to nearly VND55 million per tael for buying on November 24.
Both global and domestic gold prices set an all-time high in the first half of August this year, then declined sharply. Thus, after nearly 9 years of stability, the gold market has been vexed again amid the context that the global economy has been turned upside down due to the Covid-19 pandemic. Moreover, the recent trade tensions between the US and China have made this precious metal sparkle again.
Saigon Jewelry Company bought gold at VND56.5 million per tael and sold at VND58.15 million per tael, an increase of VND1.4 million per tael in buying rate and VND1.65 million per tael in selling rate compared to the previous day, at 5 p.m. on August 18.