Domestic gold price falls

(VOV) - The domestic gold price has fallen below VND47 million per tael but remains higher than that of the global market.

At 9:00 am on December 1, SJC gold was listed at VND46.97 million per tael, VND3.85 million per tael higher than the world market price.

The Dragon gold price hovered around VND43.35 million per tael, representing a decrease of more than VND200,000 per tael compared to previous transactions.

A day earlier, SJC gold was traded at VND47.12 million per tael, sliding downwards at the end of trading session.

Gold prices on the global market dropped sharply to US$1,728.04 /oz in Europe and U$1,713.4 /oz in the US.

In Asia, gold circled US$1,715.28 /oz, lower than the local price. Economists attribute the decreases in gold prices to fluctuations in gold supply.

The exchange rate between the US dollar and the Vietnam Dong stood at around 20,870 VND/US$.

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