Gold price climbs on Kitco trading floor. Photo bullionstreet.com

HA NOI (Biz Hub) — The gap between gold prices in Viet Nam and the world narrowed to US$144 per tael for the first time in several months on Friday, when the State Bank Viet Nam sold almost a tonne of gold at its 55th auction.

The gap was closed as domestic gold prices dropped while world market prices rose. On the local market, Saigon Jewellery Company (SJC) posted gold prices of 37.68-37.88 million ($1,793-1.802) on its website at 3pm. On the kitco.com trading floor, the gold selling price climbed to $1,376.1 per ounce, or $1,658 a tael, leaving gold prices in Viet Nam $144 per tael higher than global rates.

Meanwhile, SBV sold 25,900 taels of gold to 17 credit institutions at VND37.79-37.81million ($1,799-1,800) per tael. This brought the total gold sold on the market by SBV since March to nearly 57 tonnes. — VNS