Gold prices plummet

Domestic gold prices fell sharply by VND200,000/tael on April 3 while world gold prices dropped to below US$900 per ounce on April 2. 

The purchasing and selling prices of SJC gold was VND19.70 million/tael and VND19.72 million per tael respectively in Hanoi and VND19.70 million and VND19.77 million per tael in HCM City and Da Nang.

The Bao Tin Minh Chau Gold, Silver and Gemstone Company quoted a purchasing price of VND19.70 million/tael, down VND140,000 /tael while the selling price was VND19.80 million/tael, down VND180,000/tael.

Gold was traded at VND19.360 million per tael on the ACB gold trading floor and at VND19.365 million/tael on the VGB trading floor.

In the world market, gold prices had dropped while global leaders met in London to devise measures to prevent further financial meltdown and economic slump. In New York, the gold price also dropped to below US$900/oz.

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