Gold prices fall for fourth consecutive day

Domestic gold prices have dropped continuously this week. - Photo vtc.vn

At 9am, the Saigon Jewellery Company quoted the buying price for its SJC gold at VND33.15 million (US$1,473) and the selling price at VND33.38 million ($1,484) in the HCM City market, down VND190,000 ($8.44) per tael from yesterday's levels.

The prices of SJC gold at Phu Quy and DOJI Ha Noi companies also dropped by VND200,000 ($8.89) per tael from yesterday's close, ranging between VND33.27 million and VND33.33 million ($1,479 to $1,481) per tael.

Sacombank was trading SJC gold at VND33.28 million to VND33.34 million ($1,479 to $1,482) per tael, about VND190,000 per tael lower than the previous session's prices.

This week, SJC gold prices have slid by a cumulative VND300,000 ($13.33) per tael. The margin between its buying and selling prices remain high, hovering at VND230,000 ($10.22) per tael.

The buying price of Rong Thang Long (Thang Long Dragon) gold of the Bao Tin Minh Chau Company was VND30.72 million ($1,365) per tael and the selling price was VND31.17 million ($1,385) per tael this morning, falling by VND200,000 per tael from yesterday's levels.

The global spot gold prices lost another $13 per ounce on the Kitco trading floor early this morning, after witnessing a sharp decline yesterday, hovering around $1,110.40 per ounce.

This price is equivalent to about VND29.92 million ($1,330) per tael, or VND3.46 million ($153.78) per tael lower than the SJC gold prices.

On the foreign exchange market, Vietcombank listed the buying and selling rates of a US dollar at VND22,270 and VND22,350, respectively, this morning, down 10 dong per dollar from yesterday's rates.

Dollar rates fell at the BIDV too, ranging VND22,270 to VND22,350 per dollar, while the rates at Vietinbank were VND22,275 and VND22,345 per dollar, respectively, declining by 15 dong from the previous day's levels.

Meanwhile, dollar rates rose by 10 dong today at Eximbank, which quoted the rates at VND22,270 to VND22,360, respectively, each.