Business

Gold nosedives VND1 million per tael

SGGP
The price of gold in Vietnam continued to lose VND1 million per tael (1.2 ounces) on September 24.
Saigon Jewelry Company listed the price at VND54.45 million per tael for buying and VND55 million per tael for selling, down VND950,000 per tael in the buying rate, and VND850,000 per tael in the selling rate at 4.30 p.m. in Ho Chi Minh City.

At the same time in Hanoi, the SJC gold price was listed by Bao Tin Minh Chau Company at VND54.5 million per tael for buying and VND54.89 million per tael for selling.

The global gold price also plummeted sharply for the third session in a row, the precious metal dropped to US$1,852 an ounce, down more than $50 an ounce at about 4 p.m. Vietnamese time on September 24. This price level is equivalent to nearly VND52 million per tael after conversion, about VND3 million per tael lower than the domestic gold price.

By Nhung Nguyen – Translated by Thuy Doan

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