Vietnam & World Gold Market News

Vietnam Gold Market News

Gold price falls as stocks surge 2009-06-03 - Thanh Nien

Saigon Jewelry Holding Company Tuesday said its gold sold at VND21.35 million per tael (US$1,200) in Ho Chi Minh City and VND21.37 million/tael in Hanoi, a decrease of VND300,000 ($17)/tael from the previous day.

One tael is 1.2 ounces. World gold prices dropped by nearly $15/ounce on the same day to $973/ounce after a strong rise in previous days.

New positive signs on the global stock market had set off a trend of selling gold for profit for reinvestment in securities, according to the Sacombank Jewelry Company (SBJ).

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