Gold prices hit nearly VND80 million per tael

At 9:30 a.m, the Saigon Jewelry Company Limited (SJC) listed the price of SJC gold bars at VND78.5 million per tael and VND79.5 million for buying and selling respectively, marking an increase of VND1 million per tael compared to December 25.

Meanwhile, SJC gold prices at the Phu Nhuan Jewelry Joint Stock Company increased by VND700,000 per tael to reach VND78.2 million and VND79.2 million per tael for buying and selling, respectively.

Gold prices at the Bao Tin Minh Chau Co., Ltd. were traded at VND78.2 million and VND79.2 million for buying and selling, a figure of VND500,000 per tael higher than the previous session.

Elsewhere, gold prices at Eximbank also surged by VND800,000 per tael to VND78.2 million and VND79.2 million per tael for buying and selling, respectively.

According to information given by experts, the sharp rise in domestic gold prices can be attributed to a slight increase in demand and the limited supply source of SJC gold bars.

In the current context of strong fluctuations occurring in gold prices, people are recommended not to buy SJC gold bars as the price of SJC gold has reached its peak and stands at about VND17 million per tael higher than the global price.

People are therefore advised to buy gold rings as the price of the gold type is relatively close to that of the global price.