Viet Nam News
HÀ NỘI — Domestic gold prices have seen a steady increase since the beginning of this week.
This is in line with the robust growth of global gold prices over worries about the trade war between China and the United States.
At 2pm on Wednesday, Sài Gòn Jewellery Joint Stock Company (SJC) quoted the buying and selling prices of its gold in HCM City at VNĐ36.75 million (US$1,608) and VNĐ36.93 million per tael, respectively, an increase of some VNĐ130,000-150,000 per tael compared to last Friday.
One tael is equivalent to 1.2 ounces.
This is the third consecutive increase in gold prices this week.
At the same time, Hà Nội-based Bảo Tín Minh Châu Jewellery JSC increased its buying and selling prices to VNĐ36.82 million and VNĐ36.88 million per tael, respectively, up by VNĐ180,000 per tael against last week.
DOJI Group bought SJC gold at VNĐ36.82 million per tael and sold it at VNĐ36.90 million per tael, a rise of VNĐ190,000 per tael over last Friday.
Global gold prices have risen quickly as the US dollar continues to fall.
Gold spot is being traded at over $1,344 per ounce on Wednesday in the global market, up by some $10 per ounce against last Friday.
International experts predict that gold prices could hit $1,400 per ounce. Investors, meanwhile, are paying close attention to the trade spat between the two largest economies, which has boosted the precious metal’s appeal.
On the other hand, problems in Russia, Syria and Iran have also made investors anxious, driving up gold prices. — VNS