Local gold price tumbles
The local gold price edged down today, June 10, by VND150,000-VND240,000 per tael after its strong rally last week, the local media reported.
Saigon Jewelry Company (SJC) quoted the yellow metal at VND37 million per tael for buying and VND37.3 million per tael for selling, down VND150,000 per tael.
Meanwhile, Doji Gold & Gems Group was buying a tael of gold at VND37.06 million and selling it at VND37.16 million, down VND240,000.
In addition, the price of Rong Thang Long bullion at Bao Tin Minh Chau Jewelry and Gemstone Co., Ltd, dropped VND200,000 per tael to VND37.01 million for buying and VND37.46 for selling.
The world gold price was US$1,329.40 an ounce, down US$12 over the previous trading session but around VND260,000 higher than the domestic price.
Last week, local gold increased VND600,000 per tael, the sharpest rise in four months, according to Nguoi Lao Dong newspaper.
For the U.S. dollar, the State Bank of Vietnam today set the central reference rate at VND23,052, down VND4 against the last working day of last week (June 7).
With a margin of 3%, Bank for Foreign Trade of Vietnam listed the dollar buying price at VND23,340 per dollar and the selling price at VND23,460, unchanged from June 7.
Meanwhile, Bank for Investment and Development of Vietnam adjusted up the quotations by VND20 per dollar, listing the buying price at VND23,340 and the selling price at VND23,460.
Vietnam Export Import Bank maintained both rates at the same level as on June 7, at VND23,330 for buying and VND23,460 for selling.