Domestic gold soars past VND58 million as global prices set new record

Wednesday, 2020-08-05 15:50:49
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Gold prices in Vietnam have surged above the VND58 million mark per tael as the precious metal set a new record on the global market.
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NDO - Gold prices in Vietnam have surged above the VND58 million mark (US$2,512) per tael as the precious metal set a new record of US$2,031 per ounce on the global market.

On the morning of August 5, domestic prices climbed by VND450,000-620,000 per tael from the previous day’s closing prices and outran global prices by about VND2 million per tael.

As of 10 am, a tael of SJC gold was listed at VND57.4 million for purchase and VND58.6 million for sale in Ho Chi Minh City, up VND570,000 and VND620,000, respectively.

Gold at DOJI also rose by VND450,000 for the purchase price and VND600,000 for the sale price to VND57.3 million and VND58.3 million, respectively.

The difference between purchase and sale prices narrowed compared with the previous week, indicating that gold traders are seeing the pressure on the precious metal in the domestic market no as having eased as compared to a fortnight ago.

The exchange rate set by the State Bank of Vietnam on August 5 was VND23,208 per US dollar.