VOV.VN - Gold prices fluctuated sharply in Vietnam on November 17 to surpass VND62 million per tael without signs of stopping in the near future.
The Saigon Gold and Jewelry Company rated each tael of SJC gold at VND61.2 million on buying and VND62.02 million on selling in Hanoi at 11:40 a.m.
Elsewhere, in Ho Chi Minh City the company listed gold prices at VND61.2 million to 62 million per tael for buying and selling, respectively, marking rises of VND650,000/tael against the previous day.
Simultaneously, DOJI Group also raised their buying price to VND61.05 million and selling price to VND61.95 million per tael in Hanoi.
A gold bar was transacted at VND61.4 million and VND62 million per tael for buying and selling respectively by DOJI Group in Ho Chi Minh City. The figures rose by approximately VND900,000 per tael in comparison to November 16 transactions.
As of 11:22 a.m. the world’s gold prices hovered at approximately US$1,854.5 per ounce, representing an increase of US$0.2 per ounce compared to early morning transactions.
The sharp increases in gold prices in both the domestic and global markets were attributed to the fact that people have become increasingly concerned about inflation, and gold is viewed as a safe haven asset that can be easily bought and sold.