|
Bullion changes little
The price of gold in Vietnam fluctuated around VND37.45 million a tael on May 19 although global price recovered to above $1,500 an ounce thanks to a weakened US dollar.
Sacombank Jewelry Company bought the metal at VND37.37 million and sold at VND37.43 million as of 9:45 am local time.
Meanwhile, Hanoi-based Phu Quy Jewelry bought SJC-brand gold at VND37.32 million and sold at VND37.43 million at the same time.
Domestically, gold fetched around VND250,000 a tael lower than global price.
Internationally, gold put an end to losing momentum as a weaker dollar spurred demand for the precious metal as a store of value.
Gold for immediate delivery gained as much as $10 an ounce to close at $1,497.9 an ounce on the Comex in New York.
Gold futures for June settlement also surged by $10 an ounce to close at $1,497.5 an ounce.
In Asia, the precious metal continued to climb to around $1,500 an ounce this morning.
The euro exchange rate against the US dollar rose by 0.2 percent to nearly $1.43 a euro as data forecast to show the US existing home sales grew at a slower pace, enhancing that the US Federal Reserve would need to maintain stimulus for longer.
However, analysts said that the shared currency remained under debasement pressure, citing that the resignation of head of the International Monetary Fund, Dominique Strauss-Kahn, after being charged with attempting to rape a New York hotel maid, might be a barrier to efforts to solve the European debt crisis.
In addition, Fed is going to end debt purchase program at the end of next month.
Crude oil strongly rebounded due to the greenback’s debasement. Crude oil futures for June settlement rose as much as $3.19 a barrel to close at $100.1 a barrel, the highest level since May 10, on the New York Mercantile Exchange.
This morning, crude oil rallied to near $100.4 a barrel as of 10:10 am Vietnamese time.
The US dollar exchange rate at commercial bank almost unchanged as of the previous day. State-owned Vietcombank bought the greenback at VND20,700, and sold at VND20,850.
Da Nguyet
sggp
|
