|Domestic gold prices reach new high of over VND62 million per tael
The afternoon’s trading session witnessed the Saigon Gold and Jewelry Company quote its SJC gold price at VND60.8million for buying and VND62.3 for selling. These latest prices represent rises of VND2.55 million and VND2.8 million for buying and selling, respectively, in comparison with the day’s opening transaction session.
Simultaneously, the DOJI Gold and Gems Group moved to increase their buying price by VND2 million to VND60.10 million per tael, while simultaneously boosting their selling price by VND2.6 million to reach a total of VND61.50 million per tael.
In terms of a global perspective, the afternoon of August 6 saw the world’s gold prices hover at around US$2,041.9 per ounce, marking a rise of US$5.8 per ounce from the opening transaction session of the day.
In the forex market, the Joint Stock Commercial Bank for Foreign Trade of Vietnam, also known as Vietcombank, moved to list its local currency exchange rate at VND23,270 per US$1. As such, the global price of gold is equivalent to VND57.40 million per tael, VND4.9 million per tael lower than the SJC’s selling price.
It is anticipated that moving forward the global price of gold will witness even more unpredictable fluctuations, with the main factor expected to be novel coronavirus developments as well as the ongoing geopolitical situation worldwide.
The State Bank of Vietnam will continue to closely monitor developments in gold prices and is full prepared to come up with solutions to ensure market stability if having any abnormal developments occur.