Viet Nam gold price drops, international rate rises
Viet Nam gold price drops, international rate rises
The state-owned Sai Gon Jewellery Joint Stock Company (SJC) announced a drop of VND80,000 (US$3.58) per tael (1.2 ounces) in gold price on October 7. While the international rates for the yellow metal rose by $3 per ounce.
As of 11 am on October 7, SJC's listed price for gold is between VND35.39 million ($1,584) per tael. This shows a slight fall of VND130,000 ($5.8) since October 6.
Through this week, SJC gold price has been on the decline, with the most severe drop of VND500,000 ($22.38) per tael recorded between October 4 and October 5. Compared to the price at the beginning of the week, the current listed gold price has dropped by VND700,000 ($31.33) per teal.
International gold price fluctuated around $1.257 per ounce, rising by $3 compared to the last session.
Going by the Joint Stock Commercial Bank for Foreign Trade of Vietnam's (Vietcombank) exchange price, the current international gold price would be VND33.83 million ($1,514) per tael , slightly lower than SJC's listed gold price.
The exchange rate at Vietcombank is still VND22,340 per $1, no change from last session
