Gold skyrockets to three-month high

The local gold price soared to VND36.7 million (US$1,747) per tael yesterday, reaching its highest level in the past three months, following the rise in global prices.

Last week, the SJC gold price soared to its highest level since November 20, 2013, reaching VND36.20 million ($1,723) per tael.

Meanwhile, world gold prices continue to rise for the sixth consecutive session and are currently trading at $1325.5 per ounce or $1,597.2 per tael on the gold trading floor kitco.com.

Calculations show the local gold price surged by VND740,000 ($35) per tael in one week, while the world gold price rose by $48 per ounce or $57.8 per tael during the same duration. Until now, price for each tael of gold in the local was $177 higher than the world price.

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