Gold hit its highest price on the domestic market on July 18 morning at 39.35 million VND (1,910 USD) per tael, mostly driven by the global spot gold price reaching a record high after 11 straight days of gains due to persistent worries about the euro zone debt crisis.

Spot gold rose to an all-time peak on the international market of 1,599.20 USD an ounce, up 1 percent from the previous close.

Sai Gon Jewellery, Bao Tin Minh Chau, Agribank Gold and the Jewellery Co, the Sacombank Jewellery Co, the Phu Nhuan Jewellery Co and Doji quoted prices of 39.15-39.22 million VND per tael (one tael is equal to 1.2oz).

The gold price was up 1.2 million VND per tael, or 3.15 percent, against one week ago which is still 450,000 VND lower than global price.

Gold dealers, who predicted the domestic gold price would keep surging this week, reported sellers outnumbered buyers. Both retail and institutional investors took profits on the high price.

Some major dealers reported that a buy sentiment was being expressed by some groups who expected the price to go higher./.