Local gold price as high as world’s record rate

Wednesday’s global gold price was $1,435.60 per ounce while the local price reached nearly VND37.5 million ($1,797.7) per tael.

Tuesday local gold was VND300,000-VND400,000 (US$14.38-$19.17) higher than global’s. However, global price has risen $22 per ounce while local price only rose by VND100,000 ($4.79) since Tuesday night, reducing the difference to nearly zero.

Wednesday’s quoted local gold price was VND37.34 million-VND37.35 million ($1,790-$1,790.5) per tael and VND37.44 million-VND37.47 million ($1,794.8-$1,796.2) per tael at buy and sell while interbank US dollar exchange rate was set at VND20,663 per dollar.

Despite the rise of global gold price, local price is VND1 million lower than its record of VND38.5 million per tael as the free market US dollar is plummeting, reaching VND21,650 per note in Tuesday and VND21,500 in Wednesday, VND500 lower week on week.

tuoitrenews

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