Gold prices exceed VND20 million per tael

Due to the influence of world gold prices and the depreciation of US dollar, domestic gold prices on May 13 increased by VND10,000-15,000 per tael to VND19.96-20.1 million per tael.

SJC gold in Hanoi on May 13 was transacted at VND20.02-20.09 million per tael, up VND15,000/tael compared to transactions on May 12.

In Ho Chi Minh City, gold prices hovered around VND20-20.08 million per tael.

In New York, gold prices reached the peak of US$923.8 per ounce on May 12. While the value of US dollar continued to sink. On May 13, EUR/USD were popularly traded at 1/1.37.

The devaluation of US dollar is one of reasons for soaring gold prices.

The interbank rate of exchange for a US dollar announced by the State Bank of Vietnam on May 13 was VND16,938. While the rate at such commercial banks as Vietcombank and Eximbank was VND17,785.

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