In the domestic bullion market, the price of gold fell by VND700,000 (nearly US$27) per tael for buying and VND1.5 million (nearly US$58) for selling to VND117.8 million (US$4,536) for buying and VND119.8 million (US$4,613) for selling, adjusted by Saigon Jewelry and Gold Company (SJC) and Phu Nhuan Jewelry Company (PNJ) at around 10 a.m.
Bao Tin Minh Chau Company also reduced its buying price by VND500,000 (US$19.2) and its selling price by VND1.2 million (US$46.2) compared to the period before the holiday, listing at VND117.8 million (US$4,536) per tael for buying and VND119.8 million (US$4,613) per tael for selling.
Phu Quy Gold, Silver, and Gem Stone Group decreased prices by VND700,000 (nearly US$27) for both buying and selling, listing at VND116.8 million (US$4,498) per tael for buying and VND119.8 million (US$4,613) per tael for selling.
The price of 9999 gold rings also plummeted. SJC reduced its price by VND1.5 million (nearly US$58) per tael for both buying and selling, to VND112.5 million (US$4,334) per tael for buying and VND115.1 million (US$4,434) per tael for selling.
Bao Tin Minh Chau Company listed the buying price of a tael of gold at VND116 million (US$4,469) and the selling price at VND119 million (US$4,584), dropping VND600,000 (US$23.1) and VND700,000 (nearly US$27) for buying and selling.
Phu Quy Group adjusted the price down by VND1 million (US$38.5) on both sides, trading at VND113 million (US$4,353) per tael for buying and VND116 million (US$4,469) per tael for selling.
Only PNJ made a contrasting adjustment as the company increased the buying price by VND500,000 (US$19.2) and reduced the selling price by VND600,000 (US$23.1), listing prices at VND112.5 million (US$4,334) and VND115.4 million (US$4,445) per tael for buying and selling.
In the global gold market, the spot gold price from Kitco in the morning of May 5 (Vietnam time) was traded at US$3,260.9 per ounce, up US$20 from last weekend.
After conversion, this price is equivalent to approximately VND102.8 million (US$3,960) per tael, about VND17 million (US$655) per tael lower than the domestic SJC gold price and about VND12.2 million (US$470) to VND16.2 million (US$624) per tael lower than the price of 9999 gold rings.
