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Gold approaching VND47 million
The price of gold in Vietnam rose by VND200,000 a tael (1.2 ounces) over the previous day on November 9 whereas global price struggled to hit US$1,800 an ounce again.
Sacombank Jewelry Company bought gold at VND46.45 million and sold at VND46.7 million as of 9:40 am Vietnamese time.
Saigon Jewelry Company, the biggest gold processor and trader in Vietnam, quoted the price at VND46.5 million for buying and VND46.7 million for selling at the same time.
Hanoi-based Phu Quy Jewelry Company purchased SJC-brand gold at VND46.5 million and sold at VND46.7 million as of 11:40 am.
Domestically, gold fetched VND400,000 a tael higher than global price.
Dollar exchange rate remained unchanged at commercial banks. On free market, dollars were bought at VND21,320 per dollar, and sold at VND21,400 per dollar, an increase of VND20 per dollar in buying price, and VND50 per dollar in selling price over the previous day.
Internationally, gold declined after Italian Prime Minister Silvio Berlusconi said that he would step aside as soon as parliament passed a budget cutting plan next week.
Gold for immediate delivery fell as much as $10.5 an ounce, or 0.6 percent, to close at $1,786.1 an ounce on the Comex in New York. Earlier, the metal rallied to $1,804 an ounce, the highest level since the end of September.
In Asia, spot gold rose $6.1 an ounce to trade at $1,792.2 an ounce at 10:20 am Vietnamese time.
Holdings at SPDR Gold Trust increased by more than 8.5 metric tons to 1,264.1 metric tons yesterday, the company’s website showed.
The euro exchange rate against the US dollar slightly rose over the previous day to above $1.38 a euro in Tokyo this morning.
Crude oil futures for December settlement rose as much as $1,28 a barrel, or 1.3 percent, to close at $96.8 a barrel on the New York Mercantile Exchange, the highest level since July 28.
Crude oil was traded at $97.08 a barrel, up $0.28 a barrel, at 10:35 am Vietnamese time.
Thuy Doan
sggp
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