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VietFinanceNews.com - Vietnam's average gold prices plunged to 33.17 million Vietnamese dong (1,702 U.S. dollars) a tael, equivalent to 1.2 ounce, on Saturday, down 50,000 Vietnamese dong (2.56 U.S. dollars) a tael from the previous trading day.
However, the prices posted a rise of 1.75 percent, equivalent to 0.57 million Vietnamese dong (29.24 U.S. dollars) a tael compared to the figure of last Friday.In the capital city Hanoi, Phu Quy Company quoted buying gold price at 33.03 million Vietnamese dong (1,694 U.S. dollars) a tael on Friday and selling gold price at 33.13 million Vietnamese dong (1,699 U.S. dollars) a tael.In the country's southern Ho Chi Minh City, Sacombank Company quoted buying gold price at 33.04 million Vietnamese dong (1,695 U. S. dollars) a tael and selling gold price at 33.08 million Vietnamese dong (1,697 U.S. dollars) a tael on Friday.During the week, domestic selling gold prices ranged from the lowest level of 31.55 million Vietnamese dong (1,671 U.S. dollars) a tael on Monday and the record high of 33.25 million Vietnamese dong (1,706 U.S. dollars) a tael on Thursday.Local insiders said that after the the decision of Vietnam's central bank to allow firms to import gold, investors' sentiment on the market was more stabilized.According to insiders, Vietnam's gold prices hit the highest level in history on Thursday following the record high level of world gold prices at 1,387 U.S dollars an ounce on Thursday afternoon.On Friday, as world gold prices posted a drop of 6 U.S dollars to 1,381 U.S dollars an ounce, Vietnam's gold prices plunged to 33. 17 million Vietnamese dong (1,702 U.S. dollars) a tael.Despite the drop of gold prices, U.S. dollar price at gold shops in the country remained unchanged on Saturday morning trading session.In Hanoi, these shops bought U.S. dollars at the exchange rate of 19,810 VND and sold one U.S dollar at 19,840 VND to one U.S. dollar, presenting the same to that of previous trading day.
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