Domestic gold price kept unchanged after dropping $31.4 per tael

The price of SJC-branded gold bars in the domestic market was kept unchanged on August 7 compared to the previous day after dropping by VND800,000 ($31.6) per tael.

The four State-owned commercial banks, namely Agribank, BIDV, VietinBank and Vietcombank, and the Saigon Jewelry and Germ Stone Co. (SJC) sold the gold bars to the public at VND79 million ($3,123) per tael.

Meanwhile, in the global market, the gold price plunged by 0.81% to below the $2,400 mark per ounce.

Experts said the gold price reduction was resulted from stronger US Dollar.

At this level, gold price in Vietnam was around VND5.5 million ($217) a tael higher than world price.