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Gold prices slump in domestic market, rise globally

Update: March, 03/2015 - 08:51
Amid the global gold price increase, local oprices of gold fall in Viet Nam on march 2.— Photo
HA NOI (VNS)  — Domestic consumers, who bought gold on the God of Wealth Day, have incurred losses as local gold prices fell VND130,000 (US$6.1) per tael yesterday.

Demand for gold increased sharply on Saturday in Ha Noi and HCM City to mark the God of Wealth Day, the 10th day of the Lunar New Year. Many people believe buying gold on that day will bring them luck and money in the new year.

While global prices of the precious metal spiked in the world market yesterday, they slid in Viet Nam.

In Ha Noi, the value of each tael of the state-owned gold brand SJC was reduced by VND130,000 ($6.1) to close at VND35.58 million ($1,670) at the Sai Gon Jewellery Joint Stock Company. — VNS

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