Gold price difference drops sharply: to 3.7 million VND
On the morning of August 1, domestic gold prices dropped sharply by 300,000 - 400,000 VND/tael, falling below the 38 million VND/tael mark.
The gold price gap has decreased sharply - Photo: Thanh Dam
SJC gold trading this morning decreased by 400,000 VND compared to yesterday afternoon, down to 37.42 million VND/tael, while the selling price decreased by nearly 300,000 VND, down to 37.82 million VND/tael. According to Kitco, the world gold price on the morning of August 1 traded in Asia decreased by 3 USD to 1,320 USD/ounce, equivalent to 33.71 million VND/tael.
The difference between domestic and world prices has sharply decreased to 3.7 million VND/tael.
In the US market last night, the price of gold for December 2013 delivery on the Comex floor dropped sharply by 15.50 USD/ounce to 1,309.50 USD/ounce. The spot gold price dropped by 16.70 USD to 1,310.50 USD/ounce.
In July, the world gold price increased by more than 7%. Yesterday, the US Federal Reserve (FED) pledged to continue its program of buying 85 billion USD of bonds every month, due to concerns that persistently low inflation could hinder the US economic growth.
The reference gold price to calculate the auction price of 26,000 taels of gold on August 1 organized by the State Bank today is 37.85 million VND/tael, equivalent to the gold price that businesses sold on the market on the morning of August 1.
* This morning, the USD price at commercial banks continued to decrease by 20 - 30 VND. At Vietcombank, the USD selling price decreased by 30 VND to 21,170 VND/USD, while the buying price was 21,110 VND/USD. At ACB Bank, the USD selling price decreased by 10 VND to 21,170 VND/USD, while the USD buying price decreased by 20 VND to 21,080 VND/USD.
According to Tuoi Tre - TH
