Gold, US dollar prices see sharp increase

Prices of gold and the US dollar were surging in the domestic market on May 27.

Gold companies on May 27 were selling one tael of gold for about 18.75 million VND, an increase of 400,000 VND from the previous day.

On the gold transaction floor of the Asian Commercial Bank (ACB), gold was purchased at 18.67 million VND per tael. By lunchtime, 225,700 taels of gold had been traded, worth more than 4 trillion VND.

Meanwhile, the gold price in the world market fluctuated around 929 USD per ounce, a 2 USD rise over May 26.

A Hanoi-based Thanh Dat employee said the gold price hike in the domestic market resulted from concern about the depreciation of VND compared to hard foreign currencies.

Meanwhile, one US dollar was selling for 16,060 VND in the interbank market. The exchange rate at commercial banks was 16,221 VND one US dollar ; and the price was 17,500 VND in the free market on May 27 afternoon.

VNA

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