Domestic gold price drops slightly

The price of gold on the domestic market was listed at below VND37 million per tael on April 2, down by VND50,000 per tael after a sharp increase of VND300,000 the previous day.

In Hanoi, SBJ gold bullion was traded at VND36.85-36.93 million per tael, down VND50,000 at the weekend.

At 11:10 am, SJC gold stood at VND36.82-36.89 million per tael in Ho Chi Minh City, down VND90,000 against the previous day, and transacted at VND36.82-36.91 million per tael in Hanoi.

Thang Long Dragon gold at Bao Tin Minh Chau Company hovered around VND36.80-36.93 million per tael.

On the world market, the price of gold for June delivery in New York fell to US$1.428,90 per ounce. At 11:20 am, gold for immediate delivery was selling at US$1,433.5 – 1,434.2 per ounce.

Investors are waiting for the US economic report which is due to be released on April 2. 

vov

>   Gold recovers on rising demand (01/04/2011)

>   Billions dollar worth of jewelries exported to Switzerland (01/04/2011)

>   No one controls and certifies gold quality (31/03/2011)

>   Gold treads water; dollar escalates (30/03/2011)

>   NA’s deputy: Gold, dollar trade tightening will only affect speculators (30/03/2011)

>   Gold makes sharp correction (30/03/2011)

>   Physical gold on downward trend amid govt’s tight control (30/03/2011)

>   Cbank tightens dollar lending rules, more expected (30/03/2011)

>   Attempted gold management policies are puzzling (29/03/2011)

>   Gold remains below VND37 million (28/03/2011)