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Gold price spike continues

The Saigon Times

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HCMC – Gold prices continued soaring this afternoon, May 6, reaching VND86.5 million per tael after a midday dip.

In HCMC, the Saigon Jewelry Company (SJC) listed its selling and buying prices at VND84.3 million and VND86.5 million per tael, the highest levels to date.

Phu Nhuan Jewelry (PNJ) also raised its respective prices to VND84.3 million and VND86.5 million. Meanwhile, two Hanoi-based jewelry firms, Doji and Bao Tin Minh Chau, maintained their selling prices below VND86 million per tael.

Gold ring buying and selling prices at SJC increased this afternoon by around VND250,000 to VND73.3 million and VND75 million per tael. Doji quoted its gold rings at VND74.05 million and VND75.5 million, while Bao Tin Minh Chau priced them at around VND73.8 million and VND75.4 million.

Over the past two weeks, SJC gold bars have been on an upward trend, widening the gap between the global and domestic prices. Thus, the goal of auctioning gold bars to reduce price differentials with the world faces challenges.

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