Domestic gold prices drop amid global decline
VOV.VN - Gold prices in the Vietnamese market saw a decline on the morning of April 8, slipping below VND100 million per tael in line with the global downward trend.
At 9:15 a.m., Saigon Jewelry Company Limited (SJC) and DOJI Group listed the buying and selling price of SJC gold bars at VND96.5 million and VND99.5 million per tael, marking a fall of VND600,000 per tael, compared to the previous trading session.
Meanwhile, Bao Tin Minh Chau purchased gold bars and rings at VND96.6 million per tael and sold them at VND99.5 million per tael, marking a decrease of VND700,000 in terms of the buying rate and VND600,000 for the selling rate.
Phu Nhuan Group quoted gold bars and gold rings at VND96.7 million per tael for buying and VND99.5 million per tael for selling, declines of VND800,000 for buying and VND600,000 for selling.
Elsewhere, globally gold prices remained unchanged, standing at US$2,985 per ounce compared to the previous trading session after slipping below the US$3,000 per ounce mark.
This decline comes amid investors turning to the dollar as a safe haven after sweeping tariffs imposed by the US raised fears of a global recession, according to Reuters.
Gold experts anticipate that global gold prices may continue to fall to US$2,800 to US$2,900 per ounce over the coming days.