Gold prices top VND20 million mark

Gold prices on Saturday climbed to VND20.12 million (US$1,177) per tael (1.2 ounces), prompting more people to sell.

An employee of the sales department of Bao Tin Minh Chau Gold Trading Company in Hanoi said more customers came to sell gold than buy it.

Most customers said they were selling because the price was high now and they expected it would fall again.

Gold traders in Hanoi said prices in the global market rose to $934 per ounce on Friday before dropping to $928 per ounce later, causing gold prices to rise in Vietnam.

Vietnam Gold Business General Director Tran Thanh Hai said, “People have reasons to expect gold prices will drop because the stimulus policies of the governments of the US and other countries might help the global economy recover, sending prices down.”

 Hoang Ly - Ngoc Thang

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