Gold price follows world market to go up

Gold price on the domestic market increased to 19.3 million VND (1,103 USD) per tael on Feb. 12, compared to 19 million VND a day earlier.

At 10.00 of Feb. 12, the SJC Hanoi listed its buying/selling prices at 19.12/19.28 million VND (1,092/1,101USD) per tael.

The Bao Tin Minh Chau Jewellery Co. bought/sold goal at 19.14/19.30 million VND (1,094/1,103USD) per tael.

The prices listed at the Vietnam Bank of Agriculture and Rural Development were 19/19.3 million USD (1,086/1,103USD) per tael.

According to gold dealers, this trend is a result of the recent increase of gold prices on the world market, which now stand at around 937 USD per ounce. However, the domestic prices were between 500,000 and 600,000 VND per tael below those on the world market.

Despite the increased prices, dealers said, there is no big difference between the buying and selling volumes at their shops. Many people sold, but many other bought in hope of higher prices, they added.

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