Vietnam gold prices fall to a new low on the 9th

Jin10 data reported on April 5, that the price of gold in Vietnam fell to its lowest level since March 27 on Saturday morning, having reached a new high earlier this week. The gold bars from Saigon Jewelry Company dropped by 1.19% to 100.10 million Vietnamese dong (equivalent to $3,879.09) per tael, with one local tael equal to 37.5 grams or 1.2 ounces, while the price of gold rings also fell by the same margin to about 100 million Vietnamese dong. Global gold prices fell by more than 3% on Friday, erasing earlier gains from the week. Standard Chartered analyst Suki Cooper stated, "We tend to view gold as a liquidity asset used to meet additional margin requirements elsewhere, so after risk events occur, it’s not uncommon for gold to be sold off, in line with historical trends, considering the role gold plays in portfolios."