Gold dropped over the weekend after a short rally while the U.S. dollar appreciating against the Vietnamese dong.
Gold of Saigon Jewelry Holding Co., the country’s leading gold trader, was bought at VND17.82 million per tael (a tael equals to 1.2 troy ounces) in early trading on Saturday, down VND20,000, and sold at VND17.92 million.
Retail jewelry stores offered a lower selling price, at VND17.87 million per tael. Later on Saturday, their buying price fell by VND10,000 to VND17.84 million from trading earlier in the day, while the selling price was raised to VND17.96 million, according to the online newspaper VnExpress.net.
Meanwhile, the average interbank foreign exchange rate was announced by the central bank on Saturday at VND16,973 to the dollar. Commercial banks sold each dollar for VND17,482. (SGT)
Thursday, February 19, 2009
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