Gold prices fell last weekend after remaining high for a week, and experts attributed the fall to the Government’s instruction on conducting a specialised inspection of the market.
Domestic gold prices increased on March 7 morning to a new record at 81.25 VND (3,290 USD) million per tael (one tael is equivalent to 1.33 ounces) for SJC gold bars and 68,8 million VND for gold rings, after global prices hit an all-time high of 2,152.09 USD per ounce a day earlier.
Stores in Ho Chi Minh City have introduced a wide range of products for International Women’s Day (March 8) and are offering promotions to attract buyers.
Gold shops are stocking various products to take advantage of the huge demand on the God of Wealth Day, which falls on the 10th day of the Lunar New Year (February 25).
The domestic gold market did not show much fluctuations on June 15 after the Fed raised its prime rates, with gold prices moving around the mark 36 million VND a tael (37.5 grammes).
