Gold hits new record: VND39.8 million/tael

At 10.15am today, domestic gold prices reached an all-time high of VND39.8 million per tael on the back of a record global gold at the Asian market that hits US$1,624.8 per ounce.

Gold at Bao Tin Minh Chau stores was set at VND39.67 million (buy) and VND39.77 million (sell).

SJC gold in Hanoi also reached VND39.71 million (buy) and VND39.8 million (sell).

Meanwhile, in Ho Chi Minh City, SJC gold was put at VND39.78 million.

According to Reuters, gold rose to a fresh new high on Monday as talks over lifting the debt ceiling appeared to be stalling just days before the August 2 deadline, raising the prospect of a debt default.

Spot gold climbed as high as $1,622.49 an ounce versus Friday's high of $1,607.01 and the previous record of $1,609.51 before easing back to $1,614.66 by 0007 GMT, Reuters data showed.

President Barack Obama and congressional leaders struggled late on Sunday to break a partisan deadlock on a budget deal and bullion dealers said investors were ditching stocks in favor of safe haven assets, such as gold, until the outcome of talks become clearer, Reuters reported.

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