Domestic gold prices endure sharp fall

VOV.VN - Gold prices slumped in the Vietnamese market on July 18 as they hovered at around VND64 million per tael, the lowest level since March 1.

This comes as at 2 p.m. on July 18 prices of SJC gold at the Saigon Gold and Jewelry Company were being traded at VND64 million per tael for the buying rate and VND65.3 million per tael for the selling rate, a decline of VND2.2 million and VND2.65 million per tael, respectively, as compared to the rate previously recorded in the morning.

Simultaneously, DOJI Group also reduced their buying price to VND64 million and their selling price to VND65 million per tael, thereby representing a decline of VND2.1 million and VND1.8 million per tael from the transactions on the morning of July 18.

Furthermore, during the weekend transactions the prices of SJC gold were listed at VND67.35 million per tael for the buying rate and VND67.95 million per tael for the selling rate.

The price of each tael on July 18 fell by around VND3.3 million to VND4 million compared to transactions at the weekend.

In terms of the global market, gold prices increased slightly from US$1,708 per ounce in the early morning to US$1,719 per ounce at 2 p.m. on July 18.

Moreover, the State Bank of Vietnam also moved to adjust the exchange rate of major foreign currencies in the local forex market, with US$1 being exchanged for VND23,447.50.

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