With increasing numbers of novel coronavirus outbreaks occurring each day, financiers have been left scurrying for safe havens in which to invest in, and gold represents their top choice. Indeed, global gold prices rose sharply to US$1,871 per ounce on the morning of July 23, an increase of US$30 per ounce in comparison to the previous day.
The precious metal also saw sharp increases in the domestic market. At 1:45pm Saigon Gold, Silver and Gemstone joint stock company recorded its SJC gold price at between VND53.1 million to VND54.2 million per tael, marking rises of VND1 million per tael in terms of both the buying and selling prices from yesterday’s trading session.
Simultaneously, DOJI Gold and Gems Group had prices at between VND52.85 million and VND53.7 million for each tael of SJC gold, an increase of VND700,000 per tael in purchasing prices.
Meanwhile, Phu Quy gold firm listed the precious metal at VND52.95 million to VND54 million each in terms of its selling and buying prices, up VND700,000 to VND800,000 per tael, respectively, against the previous session.
At 4:30pm Bao Tin Minh Chau, one of the leading gemstone brands in Vietnam, quoted its SJC gold at VND53.40-54.35 million per tael.
In the forex market, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (also known as Vietcombank), listed the exchange rate at VND23,060 per US$1 for buying and VND23,270 per US$1 for selling on July 23, recording no change in comparison to the previous trading session.