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Saturday, October 16, 2021

SJC gold surges to VND53 million/tael

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HCMC – The selling price of SJC gold bars hit VND53 million per tael on July 22, up over VND3.5 million per tael against the price seen in early July.

Eximbank revised gold prices up by VND1.55 million per tael after changing gold price quotations nine times this morning, quoting SJC-branded gold prices at VND52 million per tael for buying and VND53 million per tael for selling.

Doji Group bought SJC gold at VND52 million per tael and sold it at VND52.8 million per tael, Thanh Nien Online reported.

Over the past two days, SJC gold prices broke the record levels of VND51, VND52 and VND53 million per tael.

Gold prices surged in the domestic market in tandem with the fluctuation of the world’s gold prices. The global gold price climbed by US$35 per ounce on July 22 against the previous session to US$1,857 per ounce.

The surge in the global gold prices followed the sharp rise in Covid-19 cases and fatalities in the United States.

Many investors voiced their concerns over the recovery of the economy of the United States as the Covid-19 cases in the country are on the rise. Many countries’ stimulus packages are supporting the hike in gold prices.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, has bought an additional 7.89 tons of gold.

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