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Domestic gold price surges

Update: April, 13/2017 - 06:30
Local gold prices increased significantly on Thursday in line with the robust growth of global gold prices. — Photo doji.vn
Viet Nam News

HÀ NỘI — Local gold prices hit one-week high on Thursday in line with the robust growth of global gold prices.

On Thursday afternoon, Sài Gòn Jewelry Joint Stock Company (SJC) quoted buying and selling prices of its gold in HCM City at VNĐ36.67 million (US$1,615) and VNĐ36.87 million per tael, an increase of some VNĐ130,000-150,000 per tael compared with Wednesday.

DOJI Group also increased its buying/selling prices by some VNĐ240,000 per tael, quoting its gold price at VNĐ36.72 million-VNĐ36.80 million per tael.

At 3.30pm, Phú Nhuận Jewelry Joint Stock Company bought SJC gold at VNĐ36.67 million per tael and sold it at VNĐ36.85 million, a rise of VNĐ90,000-160,000 per tael against the previous day.

Gold was being traded at some $1,286 per ounce, a five-month high, on the New York Gold Exchange on Wednesday. (One tael is equivalent to 1.2 ounce).

Gold prices have increased nearly 12 per cent this year globally, but are still VNĐ1.2 million lower per tael in comparison with the domestic price.

“Issues over US President Donald Trump’s policies, the escalating conflicts in Syria and the challenge from North Korea seem to be the launch pad for increasing world gold prices,” a DOJI representative was quoted as saying on vnexpress.net. — VNS

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