The domestic gold price continues to see a sharp decline this morning as it dropped by VND2 million a tael over the opening session yesterday.
An employee displays one kilogram gold bars during a photo opportunity at the Korea Gold Exchange in Seoul August 9, 2011. Photo: Reuters
The bid and ask prices of SJC gold bullion were quoted at VND45.35 million a tael and VND45.75 million a tael at gold shops in Ho Chi Minh City.
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said on Wednesday its holdings fell 2.2 percent, in its biggest one-day drop in seven months, as gold futures slid more than US$100 on strong US economic data and ahead of a key Federal Reserve meeting, Reuters reported.
US gold futures for December delivery GCZ1 settled down $104 at $1,757.30 an ounce, according to Reuters’ data.