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Gold prices increase by VND650,000/tael
SJC gold in Hanoi at 9.30am on December 1 was transacted at VND36.30-36.45 million/tael. In Ho Chi Minh City, Da Nang, Nha Trang and Can Tho, it hovered around VND36.35-36.42 million/tael. Compared to transactions on November 30, gold prices rose by VND650,000/tael.
In the Asian market on December 1, the price of gold was listed at US$1,388-1,389 per ounce.
Meanwhile, for fear of the growing debt burden in Europe, gold prices in the New York market keep increasing. On November 30, at opening time, it stood at US$1,365 per ounce, then rose by 2 percent and was transacted at US$1,385 per ounce at the close.
The increase in gold prices is due to the fact that the European Union agreed to lend Ireland EUR67.5 billion to help the country’s banks escape from crisis. However, many are worried that after Greek and Ireland, the debt crisis will spread to weaker economics, especially Portugal.
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