Business

Gold seesaws hastily

SGGP
The price of gold in Vietnam changed wildly on August 12 that gold traders had to adjust the gold price dozens of times during the day.
In the early morning, the price plunged by VND4 million per tael to near VND51 million per tael in Ho Chi Minh City. Then gold fluctuated continuously. In the late afternoon, Saigon Jewelry Company listed the price at VND52.56 million per tael for buying and at VND56.38 million per tael for selling, an increase of more than VND5 million per tael compared to that in the early morning.

At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company bought SJC gold at VND53.4 million per tael and sold at VND56 million per tael.

As the precious metal changed rapidly at a wide range, gold traders enlarged the gap between buying and selling rates to more than VND4 million per tael, the highest gap in history. However, trading volumes at gold stores in districts 1, 3, and Binh Thanh were poor.

By Nhung Nguyen – Translated by Gia Bao

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