Domestic gold price decreased by 150,000 VND (6.1 USD) per tael (37.5 grams) at the beginning of trading on February 19 - God of Wealth Day (the tenth day of the first lunar month) compared to the price at the end of February 18, with many fluctuations expected on the market during the day.
Hanoi (VNA) – Domestic gold price decreased by 150,000 VND (6.1 USD) per tael (37.5 grams) at the beginning of trading on February 19 - God of Wealth Day (the tenth day of the first lunar month) compared to the price at the end of February 18, with many fluctuations expected on the market during the day.
At 8.50 am, Phu Quy Jewelry Group listed its buying price of SJC gold at 75.4 million VND per tael and the selling price at 78.2 million VND per tael, down 350,000 VND per tael and 150,000 VND per tael, respectively, compared to the end of February 18.
The Saigon Jewelry Company (SJC) bought SJC gold at 75.4 million VND per tael, down 400,000 VND per tael, and sold at 78.42 million VND per tael, unchanged from the end of the previous day.
Vietnamese prefer buying gold to mark God of Wealth Day – the tenth day of the Lunar New Year, as legend has it that the God of Wealth returns to heaven on the tenth day of the first lunar month each year. Vietnamese people consider this God of Wealth Day,ཧ so they have a tradition of buying some gold for good luck and prosperity throughout the year./.
Gold remains a potential investment channel until the end of this year, though the global economy in general, and Vietnam in particular, still possess potential risk factors related to recession and inflation, which make it difficult to forecast the gold price.
In its recent report, the World Gold Council said demand for gold in Vietnam shrank 9% in the second quarter year on year due to the economic difficulties.
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Illustrative image (Photo: VNA) 
