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Vietnam gold prices plunge as government sells
By Minh Hieu
VN Express, Hanoi
Sunday, June 2, 2024
The Saigon Jewelry Co. gold price has plummeted by 12% from its all-time high of VND92 million (US$3,619.91) seen on May 10 to VND81 million ($3,185.84) today.
The gold bar price is down 3% from the weekend. A tael equals 37.5 grams or 1.2 ounces.
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Gold ring prices fell 0.53% from the weekend to VND75.3 million per tael.
The sharp decline started after the State Bank of Vietnam last Thursday announced it would sell gold through four state-owned lenders, namely Agribank, Vietcombank, BIDV, and VietinBank, to stabilize domestic prices. ...
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