Gold, stocks, gasoline decline simultaneously

The price of gold in Vietnam dropped to VND48.5 million per tael (1.2 ounces) on April 28, affected by the losing momentum of the global gold price.
In Ho Chi Minh City, Saigon Jewelry Company bought gold at VND47.85 million per tael and sold at VND48.5 million per tael, down VND100,000 per tael compared to the previous day, at 4 p.m. Vietnamese time.

At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company traded SJC gold at VND47.85 million for buying and at VND48.2 million per tael for selling, down VND300,000 per tael.

In the global market, the precious metal continued to slash more than US$20 an ounce to near $1,700 an ounce in the morning on April 28 Vietnamese time.

* The State Bank of Vietnam announced the reference US dollar exchange rate at VND23,262 per dollar, down VND10 per dollar compared to the previous day. The US dollar exchange rate at commercial banks also declined by VND30-45 per dollar compared to the previous day.

* In the trading session on April 28, foreign investors continued to net sell VND400 billion in the market, causing the VN-Index to fall by nearly 4 points at the end of the trading session.

Vietnam’s benchmark VN-Index lost 3.56 points, or 0.46 percent, to close at 767.21 points with 152 stocks increasing, 185 decreasing, and 65 remaining unchanged.

The HNX-Index of the smaller bourse in the North also dipped 0.04 points, or 0.04 percent, to close at 106.26 points with 58 winners, 78 losers, and 68 stocks moved flat.

The market liquidity reached roughly VND4.1 trillion with a total trading volume of 237 million shares.

* From 3 p.m. on April 28, E5 RON92 gasoline retreated by VND401 per liter to not higher than VND10,942 per liter. RON95-III gasoline dropped by VND308 per liter to a maximum VND11,631 per liter. Diesel oil 0.05S plunged VND882 per liter to not higher than VND9,941 per liter. Kerosene sank VND674 per liter to a maximum of VND7,965 per liter. Mazut oil 180CST 3.5S plummeted VND657 per kilogram to a maximum of VND8,670 per kilogram.

To set up the fuel price stabilization fund, fuel traders will set aside VND400 per liter for E5 RON92 gasoline, VND1,400 per liter for RON95 gasoline, VND1,600 per liter for kerosene and diesel oil, and VND500 per kilogram for mazut oil. At the same time, they are not allowed to tap the fund.

By Nhung Nguyen, Quang Minh – Translated by Gia Bao

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