Gold prices plummet

Domestic gold prices fell sharply by VND220,000/tael on April 7 while world gold prices dropped to the lowest level seen in the past ten weeks.

The purchasing and selling gold prices at Phu Nhuan Jewelry Joint Stock Company (PNJ) were VND19.37 million/tael and VND19.45 million/tael respectively in Hanoi. SJC gold at Phu Quy store and Thang Long dragon gold at Bao Tin Minh Chau Company were also traded at similar levels.

PNJ Hanoi said that in the previous trading sessions, the gold market was not hectic because of holiday. On April 6, the company bought nearly 1,000 taels and sold off more than 150.

On April 6, world gold prices decreased nearly by US$20 to US$874.1/ounce, the lowest level since January 23.

Meanwhile, gold prices in the Asian market increased slightly in the early morning and were traded at US$875,7/ounce while the gold price for May delivery rose by nearly 0.4 percent to US$876.1/ounce.

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