Customers are seen in Phu Quy Gold Firm in Ha Noi. The prices of gold fall in the market on August 17. — VNA/VNS Photo Danh Lam

Local gold prices fell after the weekend and as of 10am on Monday, the prices had fallen to VND55.45 million (US$2,403) per tael.

Compared to the end of last week, the prices decreased by between VND500,000 and VND700,000 per tael.

The Saigon Gold and Jewelry Company rated each tael of SJC gold at VND53.8 million to buy and VND55.45 million for sale (sell-buy).

Doji Group had its buying price at VND54 million with a sales price of VND55.7 million. Rated higher, Phu Quy Group listed each tael of gold at VND54.2 million on the buying side and VND56 million on the selling side.

Bao Tin Minh Chau Gold Firm in Ha Noi had one of the highest buy prices at VND54.3 million per tael while selling one tael at VND55.9 million.

On August 7, local gold prices increased sharply to reach a record of more than VND62 million per tael.

At the same time, on the gold exchange Kitco, prices fell $4.3 per ounce to close at $1,940 per ounce ($2,337 per tael). — VNS