The price of domestic gold on February 17 rebounded by 1.53 percent to 36.78 million VND per tael (1.2 ounces), driven by an increase in global gold prices.

Global gold prices improved as the world raised concerns over the US economy’s weak growth and USD depreciation, which led investors to return to the precious metal. Gold gained 1.326 USD per ounce in the Asian market in the early afternoon of February 17.

Back on home soil, the Saigon Jewellery Company (SJC) posted gold prices between 36.68 - 36.78 million VND (1,737 - 1,742 USD), an increase of 550,000 VND (25.85 USD) per tael compared to last weekend’s figures, the highest surge in the past three months.

Since the beginning of this year, the domestic price has hovered around 35 million VND (1,666 USD) per tael in quiet trading sessions. In addition, retailers have narrowed the gap between buying/selling quotes to encourage gold purchases./.