News regarding the price hike comes following Saigon Gold, Silver and Gemstone joint stock company quoting its SJC gold price for the morning at VND50.25 million per tael for selling and VND50.62 million per tael for buying, representing rises of VND80,000 and VND90,000, respectively, in comparison to the previous day’s prices.
Elsewhere, the DOJI Gold and Gems Group reduced their buying price by VND50,000 to VND50.15 million per tael, whilst simultaneously raising their selling price by VND30,000 to VND50.4 million per tael.
This fluctuation in relation to domestic gold prices can be seen to be occurring as a result of the impact to the global market as the night of July 14 saw gold prices undergo a rise of US$7 per ounce to reach US$1,809 per ounce.
With the number of novel coronavirus cases continuing to rise globally, financiers are increasingly viewing gold as a safe investment, with this being the main factor behind the recent spell of sharp increases in terms of the price of the precious metal.
In relation to the forex market, the VND/USD exchange rate stood at VND23,270 per US$1 on July 15, marking a slight decline of VND10 in comparison with the previous day.