Gold Prices Hit One-year Peak on Global Hike
Prices of yellow metal in Vietnam surged by VND100,000 a tael to VND13.5 million (US$1 = VND16,164), the highest price over the past year due to the current gold fever in the world market.
Saigon Jewellery Holding Co (SJC) sold a tael of pure gold at between VND13.4 million and VND13.5 million in key markets such as Hanoi, Ho Chi Minh City and Danang on September 7, VND9,000 higher from one day before.
Bao Tin Minh Chau Company, meanwhile, sold its gold higher, at VND13.41 million or
VND13.51 million a tael on the same day.
Although the gold price kept rising, domestic purchasing power has not fell as the wedding season is approaching, said Vo Thanh Tam, an official from Bao Tin Minh Chau, adding that the gold sales rose by almost 50 per cent at the company.
“Not only jewellery, but gold bars also are sold like hot cakes,” he said.
The upsurge of domestic bullion was driven by an unexpected record spike in world prices. By the night of September 6, gold futures surpassed US$700 per ounce, the record high over the past 16 months. (VNA)
Vietnamese
