Gold prices take nosedive following two-year high

The buying and selling prices of gold produced by the Saigon Jewellery Joint Stock Company (SJC) were listed at VND36.6 million to 37.9 million VND per tael, falling by VND1.85 million and 1.55 million per tael from the beginning of the day.

Gold is still being traded at around 1,368 USD per ounce in the global market as listed in the morning. The price drop has proved the effect of the State Bank of Vietnam’s message issued at the end of July 6’s trading session on the domestic market. On July 6, the domestic price exceeded 39 million VND per tael, the highest since June 2013.