Gold prices rise

The Saigon Jewelry Company (SJC) said Wednesday its gold price increased to VND17.95 million (US$1,027) a tael (1.2 ounces), VND200,000 ($11.4) per tael higher than Tuesday’s price.

The domestic gold price is now about VND300,000 ($17) per tael lower than the global price, which also rose on the market Wednesday, gaining $19.6 an ounce from Tuesday to $864.4 per ounce.

An SJC representative said the increase of gold prices encouraged a rush to sell, with nearly 5,000 taels sold Wednesday.

The Vietnam Export-Import Commercial Joint Stock Bank, said the global gold price had risen due to a less optimistic view of the US economy.

 Thanh Xuan

thanhnien

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