Domestic gold sees sharp fall
>> SBV to auction gold until gap narrows
In Ho Chi Minh City, gold at the Saigon Jewellery Company was priced at VND41.9 million ($2,011.2) per tael for buying and VND42.2 million ($2,025.6) per tael for selling, down nearly VND1 million from the previous day.
In Hanoi, DOJI listed the precious metal at VND41.88 million ($2,010.24) per tael for buying and VND42.15 million ($2,023.2) per tael for selling.
On the world market, gold dropped to $1,428 an ounce. A tael of gold is approximately 1.2 ounces.
Given the exchange rate of VND20,835 for a US dollar as listed at Vietcombank, the domestic price for a tael of gold was VND4.9 million ($235.2) higher than the global price, excluding tax and other fees.
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