Domestic gold prices down by VND200,000/tael

Domestic gold prices on December 27 went down by VND200,000/tael compared to the previous day after the world price of gold had dropped to below US$1,600 per ounce.

In Hanoi, SJC gold hovered around VND42.9-43.32 million/tael, while Thang Long Dragon gold at Bao Tin Minh Chau Company was traded at VND42-42.4 million/tael.

The exchange rate at commercial banks was listed at VND21,036 per US dollar (selling price) and at VND21-21,035 per US dollar (buying price).

Since September 7, the inter-bank exchange rate has risen by 0.97 percent to VND200 per US dollar.        

The world price of gold is now VND2.7 million/tael lower than that of domestic gold.

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>   Gold stalls at year end  (26/12/2011)

>   Interbank exchange rate climbs VND15 per dollar  (26/12/2011)

>   National Assembly's report predicts continued dong depreciation (26/12/2011)

>   Gold treads water (23/12/2011)

>   Gold market stabilization program fails (23/12/2011)

>   Gold, dollar slide (22/12/2011)

>   Local gold narrows gap with global price  (21/12/2011)

>   Gold remains below VND44 million (20/12/2011)

>   Gold sinks below VND44 million  (19/12/2011)

>   Gold recovers slightly after deep plunge (16/12/2011)