|
Local gold prices inch up, global prices hit record
Domestic gold prices rose to VND37.64 million (US$1,818.97) per tael at the end of Apr. 28, a VND160,000 ($7.73) increase over the end of Apr. 27.
World prices hit a record of $1,532 per ounce, up by $22.
The domestic prices sometime jumped to VND37.75 ($1,824.29) million per tael during the day but did not stay for so long owing to a strong selling force, fueled by rapidly decreasing exchange rates.
The dollar traded at VND20,565 at Eximbank, or the Vietnam Export Import Commercial Joint Stock Bank, at day-end, down VND110 from late Apr. 27.
Meanwhile, banks bought the greenbacks at VND20,486-20,489 per dollar, a VND120 slump.
Jewelry companies say domestic prices are VND500,000 ($24.16) cheaper than global prices despite strong demand from local buyers.
This is due to poor liquidity of the local market, according to local dealer Sacombank Jewelry Limited Company which believes that there will be a gradual balance when international quotations go down.
The record high in world gold prices followed a FED move to maintain interest rates at 0-0.25 percent.
International gold prices are expected to reach $1,550 per ounce soon, analysts say.
1 tael = 1.21 troy ounces.
tuoitrenews
|
