The gold price difference has narrowed sharply: now only 3.7 million VND.
On the morning of August 1st, domestic gold prices dropped sharply by 300,000 - 400,000 VND per tael, falling below the 38 million VND per tael mark.
The gold price spread narrowed sharply - Photo: Thanh Dam
The buying price of SJC gold this morning decreased by 400,000 VND compared to yesterday afternoon, down to 37.42 million VND/ounce, while the selling price decreased by nearly 300,000 VND, to 37.82 million VND/ounce. According to Kitco, the world gold price traded in Asia this morning, August 1st, decreased by 3 USD to 1,320 USD/ounce, equivalent to 33.71 million VND/ounce.
The difference between domestic and international prices has narrowed sharply to 3.7 million VND/ounce.
In the US market last night, the price of gold for December 2013 delivery on the Comex exchange fell sharply by $15.50 per ounce to $1,309.50 per ounce. The spot price of gold fell by $16.70 to $1,310.50 per ounce.
In July, the price of gold rose by more than 7%. Yesterday, the US Federal Reserve (FED) committed to continuing its program of buying $85 billion worth of bonds monthly, due to concerns that persistently low inflation could hinder US economic growth.
The reference price for calculating the auction price of 26,000 taels of gold on August 1st, organized by the State Bank of Vietnam, is 37.85 million VND/tael, equivalent to the price at which businesses sold gold on the market this morning, August 1st.
* This morning, the US dollar exchange rate at commercial banks continued to fall by 20-30 dong. At Vietcombank, the selling price of USD decreased by 30 dong to 21,170 dong/USD, while the buying price remained at 21,110 dong/USD. At ACB Bank, the selling price of USD decreased by 10 dong to 21,170 dong/USD, while the buying price decreased by 20 dong to 21,080 dong/USD.
According to Tuoi Tre - TH
