(VOV) - After tumbling to a nine-month record low of VND41 million/tael on May 9, domestic gold prices bounced back to edge up to nearly VND42 million on May 10.
At 09.00am the Saigon Jewellery Company (JSC) listed gold at VND41.55 million/tael for the buying price and VND41.7 million for the selling price, up between VND500,000-600,000 compared to the May 9 trading sessions.
A day earlier, SJC gold was traded at VND41 million/tael for the buying price and VND41.28 million for the selling price.
On May 10, the Phu Nhuan Jewellery Company (PNJ) offered its gold at VND41.55-41.65 million/tael for the buying and selling prices, up around VND500,000 against the May 9 sessions.
On May 9 domestic gold prices dropped to the VND41 million/tael benchmark following a sharp fall in the global gold prices to US$1,600/ounce. The Bao Tin Minh Chau Jewellery Company’s gold was transacted at between VND40.7-41 million/tael.
Over the past few days, world gold prices edged down by 3 percent due to growing concerns over the worsening public debt crisis in Europe, changes in the French political arena, the poor performances of Spanish banks and the political instability in Greece. The State Bank of Vietnam on May 10 announced that the inter-bank exchange rate of the local currency (VND) against the US dollar (US$) was VND20,828/US$.