Gold prices drop to VND17 million per tael

At 9 am on May 2, gold at the Hanoi SJC Company was traded at VND17.050-17.250 million per tael, VND550,000 per tael lower than the previous day.

On the open market, gold at the Bao Tin Minh Chau Gold and Gemstones Company cost VND17-17.200 per teal.

The falling price of domestic gold is attributed to a sharp drop in global gold prices after experiencing abrupt increases earlier.

Meanwhile, gold on the international market dropped by US$28.3 to US$849.2 per ounce, a record low in the past four months.

Economic experts have predicted that domestic gold prices are likely to slump further in the next few days.

VOV

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