After dropping by around VND400,000 per tael compared to last weekend in the early morning to VND55.3 million per tael, gold rebounded by more than VND1 million per tael compared to the lowest price level in the day.
At 5 p.m. in Ho Chi Minh City, Saigon Jewelry Company listed the price at VND55.1 million per tael for buying and VND56.77 million per tael for selling, up VND950,000 per tael in buying rate and VND570,000 per tael for selling rate compared to last weekend.
At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company bought SJC gold at VND55.25 million per tael and sold at VND56.48 million per tael, an increase of VND950,000 per tael in buying rate and VND530,000 per tael in selling rate.
In the global gold market, spot gold traded at US$1,949 an ounce in Asia at 2 p.m. Vietnamese time. Last week, global gold price depreciated 4.5 percent, the highest decline since March this year. Although the price of gold in Vietnam retreated in tandem with the losing momentum of the global gold price, as the decrease level was stronger, the domestic gold price was now lower than the global gold price by nearly VND1 million per tael.