Gold rebounds to VND44.4 million

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Báo Tuổi Trẻ English - 33 month(s) ago 7 readings

Gold rebounds to VND44.4 million

At 9am, domestic gold price rose by VND150,000 a tael from the closing of last week session to some VND44.4 million, narrowing the gap with its global peer to some VND2.2 million at the unofficial forex rate.

gold 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 price of gold produced by Sacombank was quoted at VND43.91 million and VND44.39 million a tael, up by VND100,000 compared with last week session.

In Hanoi, Bao Tin Minh Chau listed its bid and ask price at VND44.15 million and VND44.5 million a tael, up by VND150,000.

Spot gold price at Kitco.com rose by $10 to $1,631.9 an ounce.

At the official forex rate of VND20,834 a dollar, the international price should be VND41 million a tael, or VND3.3 million less pricy than domestic price.

Meanwhile, US dollar's price on the unofficial market today rose VND100 to VND21,400, the highest rise during the last month.

The interbank rate remained at VND20,628 a dollar after 34 consecutive sessions.

The US dollar’s price at banks stayed at the ceiling of VND20,834 a dollar as set by the government. Selling price was quoted around VND20,800 – 20,830 a dollar.

In Hanoi, the greenback’s bid and ask price on the free market this morning rose from yesterday’s VND21,250 and VND21,280 a dollar to VND21,270 and VND21,320 a dollar.

A gold trader said some major gold traders had sold out a large amount of gold and used the dong to buy back dollar, making the greenback’s price soar.

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