Gold prices slumped in the Vietnamese market on September 12 morning. On the Hanoi market, selling price of one tael, or 1.205 ounces, of State-owned SJC’s gold declined by VND190,000 (US$8.3) to US$36.75 million.
The domestic gold market did not show much fluctuations on June 15 after the Fed raised its prime rates, with gold prices moving around the mark VND36 million VND (US$1,586.5) a tael (37.5 grammes).
After Tet holiday, the domestic price of gold experienced sharp increase in line with global trends.
Gold prices rallied to a two-year high last week which stirred feverish speculation in the Vietnamese market.
Domestic gold prices have dropped almost VND2 million per tael (1 tael = 37.5 grammes) on July 7 compared to the peak one day earlier.
The domestic gold price rocketed to hit VND38 million (US$1,710) per tael on July 6 morning in line with the global trend.
Ho Chi Minh City’s May consumer price index (CPI) increased by 0.82 percent compared to April, the municipal’s General Statistics Office (GSO) announced on May 24.
The consumer price index (CPI) of Hanoi in March increased slightly compared to February but no specific figure has been given, according to a report from the municipal Statistics Office.
Analysts have reacted to gold prices in Vietnam dipping below global rates for the first time in nearly five years, saying it indicates that the precious metal is no longer a safe haven asset in the country.
Gold prices dropped in the domestic market on February 22.
Ho Chi Minh City’s consumer price index (CPI) in December fell by 0.11% over the previous month and 0.2% against the same period last year.
Gold prices dropped VND110,000 (US$4.9) from the beginning of this week in the local market, while the global gold prices fell to their lowest level since 2010 on November 13.
Greenback prices fell again in the local market on October 16 while gold prices went up on the same day.
The greenback rate remained at the ceiling price on August 25 despite the State Bank of Vietnam (SBV)’s August 24 announcement of no adjustment to the VND/USD rate through early 2016.
Gold weakened further on August 4 in Vietnam, falling to the lowest levels since 2012, amid a continuing steady drop in world prices.
(VOV) - SJC gold prices in Vietnam rose to VND36.93 million per tael on the morning of July 1, concurrent with a sharp increase in both the US and Asian market price to US$1.330 per ounce.
(VOV) - Vietnam’s May consumer price index (CPI) rose 0.2% over April and 4.72% from a year ago, the General Statistics Office (GSO) announced on May 24.
A representative of the State Bank of Vietnam (SBV) in Ho Chi Minh City said on May 14 the central bank would inject gold into the market through auctions if demand increases in the coming days, according to a local newspaper.
(VOV) - The price of gold in Vietnam, following the global trend, rose to VND36.8 million/tael on May 15, the highest price it has traded at since February 18.
The price of domestic gold on February 17 rebounded by 1.53 percent to VND36.78 million per tael (1.2 ounces), driven by an increase in global gold prices.