Gold, stocks fluctuate strongly

SGGP
Amid information that a vaccine developed by US pharmaceutical company Pfizer Inc. is capable of preventing 90 percent of Covid-19, the global gold prices plunged because of investors’ sell-off. This move also dragged down the price of gold in Vietnam.
In the early morning of November 10, gold traders reduced gold prices sharply, but there was a large difference. Some traders lowered gold prices by VND500,000-VND1 million per tael (1.2 ounces), while some others cut gold prices by up to VND2 million per tael.

However, in the late afternoon, the gold prices unexpectedly recovered. SJC gold price was listed at VND56 million per tael for buying and VND56.5 million per tael for selling, up about VND300,000 per tael compared to the gold prices in the morning, but down VND450,000 per tael compared to the previous day.

In related news, Vietnam's stock market opened the trading session on November 10 with green covering the market. The VN-Index sometimes increased by nearly 10 points. However, due to the profit-taking pressure from investors, several large-cap stocks slumped heavily.

At the end of the trading session, the VN-Index slid 0.09 points, or 0.01 percent, to close at 951.9 points. On the northern bourse, the HNX-Index lost 0.24 points, or 0.17 percent, to finish at 141.37 points.

By Nhung Nguyen – Translated by Gia Bao

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