Gold prices slip $5 each teal in the local market on August 18.— Photo hanoimoi.com.vn

HA NOI (Biz Hub) — Gold prices fell by VND100,000 or US$5 per tael in the local market on August 18 from last week's rate, while the prices in the world market also declined.

In Ha Noi, each tael of the state-owned SJC gold was listed at VND36.58 million ($1,746.5) per tael at the Doji Gold and Gems Group.

Meanwhile, on the global gold trading floor Kitco.com, the price of gold fell by $5.1 per ounce and was listed at $1,299.4 per ounce or $1,565.7 per tael.

According to reuters.com, gold continued to fall in the second session on Monday, slipping below $1,300 per ounce on technical selling, as equities recovered after an initial sell-off over escalating tensions in Ukraine.

Thus, each tael of gold in Viet Nam was $181 higher than in the world market on August 18.

On the same day, the US dollar rate remained stable in Vietcombank, BIDV, VietinBank and ACB in the local market. The buying rate of the US dollar was listed between VND21,175 and VND21,185, and the selling rate was set between VND21,225 and VND21,235.

In the flea market, the US dollar's buying and selling rates were VND21,200 and VND21,220 respectively.

On its website sbv.gov.vn, the central bank kept the US dollar's exchange rate at VND21,246, unchanged from its new rate since June 19. The central bank also set the ceiling on the dollar rate at VND21,458.5, which commercial banks were allowed to apply as an effective exchange rate with 1 per cent margin. — VNS