Domestic gold prices rise to one-year high of VND58 million per tael
Local gold prices on October 9 reached a new all-time high, similar to last year’s figure of nearly VND58 million per tael.
During the the morning trading session, selling and buying prices for gold bars quoted by Saigon Jewelry Company Limited (SJC) stood at VND57.95 million and VND57.25 million per tael, respectively.
Meanwhile, Phu Nhuan Jewelry Joint Stock Company listed the gold selling and buying prices at VND57.9 million and VND57.2 million, respectively.
This marks the fourth consecutive increase of two large gold companies in Ho Chi Minh City, to bring the price back to the peak period seen a year ago. Since the beginning of this month, the price of gold has increased by VND700,000 per tael.
In the global gold market, gold price surpassed US$1,780 an ounce, before reversing to US$1,575 as bond yields also went up.
Currently, global gold converted into Vietnamese currency is priced at about VND48.5 million/tael, about VND9.5 million/tael lower than the domestic transaction price.