The world gold price fell to its lowest level in a week on May 12, whilethe local gold price rose steadily in the Vietnamese market.
The forex rate, meanwhile, remained stable.
The world gold price fell to 1,289.2 USD per ounce or 1,553.4 USD per tael on the gold trading floor Kitco.com.
Meanwhile,the gold price in Vietnam rose to 35.63 million VND, or 1,696 USD, pertael, as listed by the state-owned Saigon Jewellery Company (SJC) on May12.
Thus, each tael of gold in Vietnam was 143 USD higher than in the world market.
Theeuro hovered near a month's low over fears of policy action by theEuropean Central Bank, shrugging off demands for safe havens due to theescalating violence in Ukraine.
On the same day, Vietcombank andthe other commercial banks maintained an exchange rate of 21,120 VND perUS dollar, the same as last week. This was with the exception ofSacombank which raised its dollar selling price to 21,130 VND.
TheState Bank of Vietnam kept the US dollar's exchange rate at 21,036 VNDon May 12, which has been the rate for the past 10 months.-VNA
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