Saigon Jewelry Holding Co. (SJC) yesterday quoted the gold price at VND19.51 million per tael on buying and VND19.57 million per tael on selling, falling VND40,000 from the day earlier. A tael equals 1.2 troy ounces.

Gold shops quoted prices around the level above. Since early this week, the gold market has been so quiet. A shop's owner near An Dong Market said that the current gold price was not attractive. Her shop yesterday virtually sold nothing.

"Gold bar as well as golden jewelry is hard to sell now," she said. The trading volume at SJC yesterday was about 1,500 taels, much lower than days when the gold price was over VND19.8 million per tael.

Nguyen Cong Tuong, deputy head of sale department of SJC, said local gold price was still VND600,000 higher than the global price.

* The inter-bank rate yesterday was VND16,939. Vietcombank quotes the prices at VND17,760 on buying and VND17,780 on selling. The U.S. dollar price on the black market slightly increased from the previous day, at VND17,860 on buying and VND17,979 on selling.

Source: Saigon Times