Gold remains on losing trend

April 15, 2011 | 01:00

(0) user say

The price of gold in Vietnam declined on April 14 although global price recovered in the trading session last night and continued climbing this morning.

Sacombank Jewelry Company bought the metal at VND36.93 million and sold at VND37.01 million as of 8:05 am local time.

Saigon Jewelry Company, the biggest gold shop in Vietnam, purchased gold at VND36.9 million and sold at VND37.02 million at the same time.

Meanwhile, Hanoi-based Phu Quy Jewelry bought SJC-brand gold at VND36.9 million and sold at VND37.01 million as of 9 am local time.

Internationally, gold restored as the US dollar weakened on speculation that Fed would prolong loose monetary policy.

Gold futures for June delivery gained as much as $2 an ounce, or 0.1 per cent, to close at $1,455.6 an ounce on the Comex in New York.

Gold for immediate delivery rose to $1,457 an ounce from $1,453.95 an ounce the previous trading session.

In Asia, spot gold stood at $1,457 at 9:10 am Vietnamese time.

Crude oil also recovered from the lowest level in two weeks. Crude oil futures for May settlement rose as much as $0.86 a barrel, to close at $107.11 a barrel.

Brent crude oil futures for May delivery gained $1.96, or 1.62 per cent, to $122.88 a barrel.

On the foreign exchange market, the interbank US dollar exchange dropped by VND5 per dollar to VND20,718. State-owned Vietcombank bought the greenback at VND20,920, and sold at VND20,925.

SGGP

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional