Vietnam's gold price falls to a new low on the 9th

The price of gold in Vietnam fell to its lowest level since March 27 during the early trading session on Saturday, after reaching a new high earlier this week. Gold bars from Saigon Jewelry Company dropped by 1.19% to 101.01 million Vietnamese dong 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 dropped more than 3% on Friday, erasing gains made earlier in the week. Standard Chartered Bank analyst Suki Cooper stated, "We tend to view gold as a liquid asset used to meet additional margin requirements elsewhere, so it is not uncommon for gold to be sold off following risk events, consistent with historical trends."