The price of gold in Vietnam recovered to above VND43 million per tael (1.2 ounces) on October 21 although global price retreated for four consecutive trading sessions.
Sacombank Jewelry Company bought gold at VND43.01 million and sold at VND43.44 million as of 9:30 am local time.
Saigon Jewelry Company, the biggest gold shop in Vietnam, quoted the price at VND43.05 million for buying and VND43.35 million for selling.
Hanoi-based Phu Quy Jewlery Company purchased SJC-brand gold at VND43.25 million and sold at VND43.55 million at the same time.
Domestically, gold fetched VND2.5 million a tael higher than global price.
The interbank exchange rate climbed VND10 per dollar over the previous day to VND20,748 per dollar, the eleven times this month. Vietcombank bought dollars at VND20,950, and sold at VND20,955. On black market, dollars were bought at VND21,620, and sold at VND21,680, an increase of VND120 per dollar in buying price and VND130 per dollar in selling price over the previous day.
Internationally, gold declined the fourth day, heading for the longest losing streak since January although US stocks markets, and the US dollar went down.
Gold futures for December delivery fell as much as $34.12 an ounce, or 2.1 percent, to close at $1,612.9 an ounce on the Comex in New York.
Spot gold was traded at US$1,628.75 an ounce, up 0.71 percent an ounce at 12:45 pm Vietnamese time.
Crude oil was traded at $86.54 a barrel on the New York Mercantile Exchange at 12:50 pm Vietnamese time.
The euro exchange rate against the US dollar was at $1.38 a euro in Tokyo at the same time.
