The domestic price of gold on September 16 fell sharply by VND400,000-500,000 per tael to VND46.6-46.8 million per tael compared to the previous day.
In Hanoi, SJC gold was transacted at VND46.6-46.82 million/tael. Meanwhile, in HCM City, it was listed at VND46.6-46.8 million/tael.
In New York, the price of gold was US$1,781.4 per ounce. It had previously stayed at US$1,775 per ounce, the lowest level since August 16.
The reason for declining gold prices is that European banks will have enough cash until the end of the year, easing worries over the worsening debt crisis in Europe.
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