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Gold prices increase to VND17 million per tael
The Saigon Jewelry Holding Company (SJC) on November 24 announced the unexpectedly sharp rise of the price of gold, which reached VND16.95 million per tael, an increase of VND100,000 per tael compared with the transaction price last week.
The price of gold at the Asia Commercial Bank (ACB) Gold Trading Centre was transacted at VND17.299/tael at 5.25 pm on November 24. Meanwhile, the world’s gold prices were up US$16.85 per ounce, to US$817.85 per ounce.
According to the Vietnam Export Import Commercial Joint Stock Bank Eximbank, the world’s price of gold rose because of increasing demand, trading volume reaching 843 tonnes of gold in the fourth quarter as some Asian countries, such as India and China, entered the festival season.
The sudden increase in domestic gold prices has enticed many gold sellers to cash in. SJC Company has bought over 15,000 taels per day.
VOV
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