Thursday, 12/02/2009 17:36

Sellers move as gold prices soar

Saigon Jewelry Company (SJC) Wednesday increased its gold price by VND300,000 (US$17) per tael over the day before to VND18.95 million ($1,083) per tael.

Gold prices in the international market went up by $26 per ounce to reach $921 per ounce. A tael is approximately 1.3 ounces.

According to the Vietnam Export Import Commercial Joint Stock Bank (Eximbank), the US Treasury’s $1.5 trillion bank bailout plan has not given investors a more positive outlook, and they have continued to buy gold.

An SJC representative said the gold price increase has attracted more sellers than buyers.

Thanh Xuan

thanhnien

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