Vietnamplus

After seeing strong changes in the first days of this week, domestic gold prices on July 20 morning were listed unchanged against the previous day.

The Vietnam Gold Trading Association (VGTA) has proposed the establishment of a national gold exchange in Hanoi or Ho Chi Minh City.

Domestic gold prices kept soaring this morning to pass the historic high on July 6, reaching 50.32 million VND (2,172 USD) per tael (1.2 ounces). The prices of the yellow metal went up in the global market.

Local gold prices soared to hit 47.7 million VND (2,053 USD) per tael (1,703.7 USD per ounce) on March 6.

Local gold prices hit a two-year high on June 21 as the global market continued to heat up.

Ten of the 11 goods categories have seen price increases in October, raising the consumer price index (CPI) by 0.33 percent from the previous month, according to the General Statistics Office (GSO).

Gold prices slumped in the Vietnamese market on September 12 morning. On the Hanoi market, selling price of one tael, or 1.205 ounces, of State-owned SJC’s gold declined by 190,000 VND (8.3 USD) to 36.75 million USD.

The VND/USD exchange rates saw little changes this morning although the US Federal Reserve (Fed) raised interest rates on June 14 on the confidence in a growing economy and strengthening job market in the world’s biggest economy.

The domestic gold market did not show much fluctuations on June 15 after the Fed raised its prime rates, with gold prices moving around the mark 36 million VND a tael (37.5 grammes).