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Local gold prices rise further

The Saigon Times

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HCMC – Local gold prices have continued their upward spiral as it climbed by nearly VND1 million this morning, May 7, to a new high of VND87.5 million per tael, said local media reports.

Saigon Jewelry Company (SJC) in HCMC adjusted its gold bar prices five times within the first two hours of opening on May 7.

By 10 a.m., each tael of SJC gold had increased by VND1 million compared to the previous day, reaching VND85.3 million for buying and VND87.5 million for selling – the highest level ever recorded. A tael equals 37.5 grams or 1.2 troy ounces.

PNJ quoted its gold bar prices at VND84.8 million per tael for buying and VND86.95 million per tael for selling.

Gold ring prices increased as well, with SJC setting its gold ring prices per tael at VND73.5 million  for buying and VND75.2 million for selling.

Bao Tin Minh Chau priced its gold rings at around VND74.1 million to VND75.6 million.

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