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Local gold prices climb to record high

The Saigon Times

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HCMC – Local gold prices hit an all-time high at over VND51 million per tael today, July 21, following the surge in the global price of the metal last night.

In the Hanoi market, Saigon Jewelry Company (SJC) quoted its gold price at VND50.75 million per tael for buying and VND51.15 million per tael for selling this morning, up VND200,000 per tael against the previous session.

Meanwhile, SJC gold was bought and sold in HCMC at VND50.75 million and VND51.13 million per tael, respectively, Motthegioi news site reported.

Some banks also increased their gold prices this morning, with Maritime Bank buying the yellow metal at VND50.2 million a tael, but selling it at VND51.35 million, up VND350,000 from the previous day. Meanwhile, gold at Saigon Commercial Bank was transacted at VND50.65 million per tael for buying and VND51.15 million per tael for selling.

Other 9999 gold products were bought at VND50.2 million per tael and sold at VND50.85 million per tael by many jewelry firms.

The Phu Quy gold rings of the Phu Quy Group were priced at VND50.3 million per tael for buying and VND50.85 million per tael for selling, up VND300,000 per tael from the earlier session.

The sharp rise in domestic gold prices was a result of the world’s gold price movements. The price of the yellow metal in the global market stood at US$1,817 per ounce last night, up US$7.4 versus the previous session.

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