Saigon Jewelry Co., bought gold at VND28 million and sold it at VND28.06 million, an increase of VND50,000 a tael over last weekend, as of 10 am Vietnamese time.
Domestically gold fetched VND400,000 a tael lower than the global price.
Gold hit VND28 million again last weekend after the New York market saw a sharp rise on June 11. The precious metal moved widely last week. It hit a six-month high of VND28.35 million then quickly plunged to VND27.9 million.
According to gold traders, trading volume on bullion market remained thin.
On international market, after reversing a downward trend, and rising 0.8 percent to finish week at US$1,228.5 an ounce on June 11, the metal continued to advance in the first trading session of this week, fluctuating around $1,230 an ounce in Asia this morning.
International investors considered gold as a priority investment channel amid a global economy facing several uncertainties. The European debt crisis diminished market confidence in the shared currency and prompted investors to buy gold as an alternative asset.
The precious metal has gained 12 percent this year, while the euro has lost 15 percent.
Last week, holdings at SPDR Gold Trust increased by 19.8 metric tons to a record 1,306.1 metric tons, the company’s website showed.
Analysts fear that European debt woes may be spreading and clip global economic recovery. They remained cautious about the outlook for economic growth.
FED chairman Ben Bernanke said June 11 that the global economy would not experience a double dip, but would recover at a modest pace.
Market concerns intensified after the US retail sales report in May unexpectedly showed a decrease of 1.5 percent.
The dollar exchange rate against the euro was at $1.22 this morning in Tokyo.
Analysts expect that the Euro zone industrial output data, released today, will contain optimistic numbers.
Crude oil rose this morning, trading above $74.5 a barrel. The liquid gained 3.2 percent last week and has advanced 5.5 percent this year.
