Local gold price surges

02:57' PM - Friday, 05/07/2019

The domestic gold price skyrocketed to over VND39 million per tael today, July 3, following the rise in the metal’s global price last night, the local media reported.

Saigon Jewelry Company (SJC) quoted its gold price at VND38.9 million per tael for buying and VND39.2 million per tael for selling at 11 a.m. Meanwhile, on the Hanoi market, Bao Tin Minh Chau Jewelry Company was selling a tael of SJC gold at VND39.3 million and buying it at VND38.85 million.

As such, the gold price soared by VND800,000-VND1 million per tael compared with the previous day.

Earlier, the yellow metal’s price tumbled by VND1.3 million per tael from its six-year high of some VND40 million per tael recorded a week ago.

Prices of other 9999 gold products also surpassed the VND39 million mark today. The price of Rong Thang Long gold at Bao Tin Minh Chau Jewelry was VND38.78 million per tael for buying and VND39.28 million per tael for selling.

The prices of Phu Quy gold quoted by Phu Quy Group were VND38.9 million for buying and VND39.5 million for selling.

The strong fluctuation in the domestic gold price resulted from the world’s gold price movements. The price of the yellow metal on the global market stood at US$1,419 per ounce last night, rising over US$34.4 versus the previous session. The gold price continued its upward trend on the world market on July 3, rising by US$5.9 per ounce to US$1,425 per ounce, the highest over the course of the week.

The fall of the greenback and concerns over global trade pushed up global gold prices, according to Reuters.

In Hanoi City, the U.S. dollar at local commercial banks was commonly priced at VND23,215 for buying and VND23,245 for selling today, dropping VND5 against yesterday.

Vietcombank kept dollar prices unchanged, buying it at VND23,180 and selling at VND23,300. - SGT -

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