Gold plummets to 8-month low

By Thien Ngan   July 18, 2022 | 09:12 pm PT
Gold plummets to 8-month low
A person holds a gold ring at a jewelry store in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC’s gold price plunged by 3.1 percent to VND62.5 million (US$2,667.18) per tael Tuesday, the lowest in eight months, after recording a historic decrease Monday.

The drop was the second biggest single-day decline for the safe haven metal after the 6 percent fall Monday.

A tael equals 37.5 grams or 1.2 ounces.

Global gold prices fell to their lowest in 11 months last week as the U.S. dollar has been gaining this year amid concerns of inflation and geopolitical tensions.

But they rose by 1.1 percent Monday to $1,708.18 per ounce.

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