Gold falls to under VND17.6 million per tael
Saigon Jewelry Holding Co. (SJC) on Tuesday quoted the gold buying price at VND17.47 million per tael and selling price at VND17.54 million per tael, falling VND80,000 per tael from Monday. A tael is equal to 1.2 troy ounces.
The local gold price decrease was in line with the global gold price during the day. However, the world price as of late on Tuesday increased to US$855.8 a troy ounce, up US$24.8 from the morning price.
The inter-bank rate between Vietnam dong the U.S. dollar was VND16,973. Commercial bank quoted the selling price of the greenback at VND17,482 to the dollar. The price on the unofficial market has cooled down in the last two days, at VND17,570 on buying and VND17,630 on selling on Tuesday compared to some VND17,800 in previous days.
However, banks says they are still in short of dollar supply to sell to enterprises because individuals and even exporters do not want to sell dollars to banks. (SGT)
