Gold Prices Drop Sharply
Domestic gold prices fell sharply to a two-month low at VND11.4 million ($717) per tael on June 13, following a downtrend in the global market.
Within the past month, gold has lost more than VND3 million per tael in Vietnam.
In the world market, the bullion was quoted at $596 per ounce, falling by some $136 a ounce within the past month.
Experts said that the present downward correction has resulted from eased tensions between Iran and the US as well as the fall in the oil price.
The yellow metal’s price is forecast to dip below $580 and even $550 per ounce in the short time.
The domestic price of the precious metal was seen to increase strongly since the beginning of this year. It reached a new high at VND15.3 million per tael in mid-May.
P.V
Vietnamese
