 |
Around 4 p.m. in Ho Chi Minh City, PNJ Company listed SJC gold for purchase at VND69.7 million per tael and for sale at VND70.4 million per tael, down VND100,000 for buying and VND600,000 for selling. Simultaneously, in Hanoi, Phu Quy Company traded SJC gold at VND69.45 million per tael for buying and VND70.25 million per tael for selling, representing a decrease of VND150,000 in the buying rate and VND750,000 in the selling rate.
In the global gold market, the price of gold for immediate delivery on the Kitco exchange in the afternoon of October 16 (Vietnam time) stood at US$1,912.5 an ounce, a decrease of $20 an ounce from the closing price on the night of October 15 in New York. When converted, this price is roughly equivalent to VND56.7 million per tael, approximately VND13.7 million per tael lower than the domestic gold price.
The global gold price dropped as investors took profits and awaited new developments in the Middle East. This comes after gold prices had risen more than 5 percent in the previous week, driven by political conflicts between Hamas and Israel, increasing the demand for global investors to hedge against risks.
