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Gold prices decrease sharply
The domestic price of gold at banks and gold stores on June 6 dropped by VND180,000 per tael to VND21.05-21.24 million per tael due to a downturn in world gold prices.
The price of SJC gold at Sai Gon Jewelry Company in Hanoi was transacted at VND21.04-21.24 million per tael, while the price of SBJ gold listed by Sacombank stood at VND21.06-21.24 million per tael.
In Ho Chi Minh City, the price of gold at Phu Nhuan Jewelry Company was transacted at VND21.15-21.22 million per tael.
On June 6, world gold prices on the New York market fell to US$955.9/ounce. Gold contracts on the US future market also sank sharply, by US$24 to US$955.3/ounce.
Another cause of the tumble in domestic gold prices was the price of crude oil, which dipped to US$68.7 per barrel on June 6. Also, the rate for USD/EUR, which stood at US$1.39 per EUR, was an influencing factor.
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