Gold price rises

The Saigon Jewelry Company (SJC) said its gold price increased to VND17.04 million (US$1,003) a tael, VND370,000 ($21.70) per tael higher than Wednesday’s price.

Gold prices on the global market Thursday also rose, gaining $40 an ounce from Wednesday to $822 per ounce. A tael is 1.2 ounces.

The domestic gold price is now about VND200,000 ($11.70) per tael higher than the global price.

The Vietnam Export-Import Commercial Joint Stock Bank, known as Eximbank, said the global gold price had risen as the world’s oil price increased slightly, while the value of the US dollar against other currencies decreased.

An SJC representative said the sudden increase of gold prices made people rush to sell gold, with about 7,000 taels of gold sold Thursday.

Thanh Xuan

THANHNIEN

>   SBV Governor highly values role of foreign credit institutions in Vietnam (12/12/2008)

>   SBV leader grants interview to Japanese newspaper (12/12/2008)

>   SBV issues license for Bao Viet Bank (12/12/2008)

>   16 entities commended by SBV Governor (12/12/2008)

>   18/12/2008, first trading date of Government bond QHB0811078 (12/12/2008)

>   Banks moving ahead with capital increase plans (12/12/2008)

>   How are companies eligible for tax reductions defined (12/12/2008)

>   SBV Governor appoints members of Special Working Teams to support SMEs (11/12/2008)

>   Enhanced exchange of information on anti-money laundering in Vietnam (11/12/2008)

>   Speech by SBV Governor at year-end meeting with representatives of international financial institutions and foreign credit institutions in Vietnam (11/12/2008)