Gold Prices Set New Record High
Gold prices have slightly increased by VND30,000 per tael to set a new record high in Vietnam early morning of May 20, making local traders confused.
Saigon Jewelry Holding Co. (SJC) has boosted the buying prices to VND20.04 million per tael and selling price to VND20.10 million per tael in HCM City, increasing VND30,000-VND50,000 per tael from late last week.
Phu Nhuan Jewelry Joint Stock Company (PNJ), the Vietnamese leading jewelry retail company, is now offering to buy gold at VND20.4 million per tael and sell at VND20.11 million per tael, up VND30,000.
One tael equals 1.2 troy ounces.
Despite the upward trend of the yellow metal, gold trade was fairly dull as people often rushed to sell gold when the price surged.
Nguyen Cong Tuong, vice manager of the sale department of SJC, said the company’s total trading volume two days ago was about 1,000 taels. (VnExpress)
Vietnamese
