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| Gold is something must-have for a wedding in Viet Nam, especially in the coming wedding season.— Photo Tigiavang.net |
HA NOI (Biz Hub) — Sixteen credit institutions bought 19,800 taels of gold at a price of VND37.40-37.43 million ($1,780-1,782) per tael on Wednesday at the 61st auction held by the State Bank of Viet Nam.
Gold prices declined by VND100,000($4.5) per tael in local markets when the Saigon Jewellery Company (SJC) posted a rate of VND37.34-37.50 million ($1,779-1,786) on its website at 3pm, while the kitco.com trading floor listed the price at $1,324 per ounce, or $1,595 per tael, leaving prices in Viet Nam $191 per tael higher than global rates.
Since the SBV's first gold auction in March, the bank has sold over 1.6 million taels or 61.4 tonnes of gold.— VNS