Gold price climbs to local record
The price of gold reached a new high on Oct. 8 of over 23 million VND (1,292 USD) a tael in the local market.
Late on Oct. 7, the gold price listed in major jewellery shops like Bao Tin Minh Chau or Sai gon Jewelleries (SJC) officially climbed to 23 million VND per tael. Earlier on Oct. 8 morning, the shops opened with an even higher buying/selling price of between 23.15 million VND (1,300 USD) and 23.25 million VND (1,306 USD).
Late on Oct. 7, the gold price listed in major jewellery shops like Bao Tin Minh Chau or Sai gon Jewelleries (SJC) officially climbed to 23 million VND per tael. Earlier on Oct. 8 morning, the shops opened with an even higher buying/selling price of between 23.15 million VND (1,300 USD) and 23.25 million VND (1,306 USD).
The price of gold reached a new high on Oct. 8 of over 23 million VND (1,292 USD) a tael in the local market.
Late on Oct. 7, the gold price listed in major jewellery shops like Bao Tin Minh Chau or Sai gon Jewelleries (SJC) officially climbed to 23 million VND per tael. Earlier on Oct. 8 morning, the shops opened with an even higher buying/selling price of between 23.15 million VND (1,300 USD) and 23.25 million VND (1,306 USD).
At 16.00 pm, the gold price in Bao Tin Minh Chau was listed at 23.10 million VND to 23.20 million VND a tael for a buying/selling, while Sai Gon Jewelleries listed the price of 23.13 million VND – 23.19 million VND a tael.
“The simultaneous advance of gold prices in the domestic market is greatly impacted by the moves in the global market,” said an SJC salesman, confirming that trading activities had remained normal over the past weeks.
Tran Nhat Nam , a worker from Bao Tin Minh Chau, also said the gold price in the local stock market was sticking to the moves in the global market.
Meanwhile, Nguyen Thanh Truc from the Vietnam Gold Association attributed the gold price’s advance to the season, saying that demand for gold always increased in September and October.
The gold price listed in the New York Stock Exchange reached 1,056 USD per ounce (a tael equivalent to 1.2 ounces), while that in London Fix website hit 1,059 USD per ounce.
Truc predicted that the gold price could reach 1,100 USD an ounce this month since it surpassed the 1,050 USD level and suggested that investors should stay away from gold in the period of rising prices./.
Late on Oct. 7, the gold price listed in major jewellery shops like Bao Tin Minh Chau or Sai gon Jewelleries (SJC) officially climbed to 23 million VND per tael. Earlier on Oct. 8 morning, the shops opened with an even higher buying/selling price of between 23.15 million VND (1,300 USD) and 23.25 million VND (1,306 USD).
At 16.00 pm, the gold price in Bao Tin Minh Chau was listed at 23.10 million VND to 23.20 million VND a tael for a buying/selling, while Sai Gon Jewelleries listed the price of 23.13 million VND – 23.19 million VND a tael.
“The simultaneous advance of gold prices in the domestic market is greatly impacted by the moves in the global market,” said an SJC salesman, confirming that trading activities had remained normal over the past weeks.
Tran Nhat Nam , a worker from Bao Tin Minh Chau, also said the gold price in the local stock market was sticking to the moves in the global market.
Meanwhile, Nguyen Thanh Truc from the Vietnam Gold Association attributed the gold price’s advance to the season, saying that demand for gold always increased in September and October.
The gold price listed in the New York Stock Exchange reached 1,056 USD per ounce (a tael equivalent to 1.2 ounces), while that in London Fix website hit 1,059 USD per ounce.
Truc predicted that the gold price could reach 1,100 USD an ounce this month since it surpassed the 1,050 USD level and suggested that investors should stay away from gold in the period of rising prices./.
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