Gold increases to nearly VND59 million (US$2,596) per tael

The gold prices today increased by VND300,000 per tael to VND58.7 million.


Gold increases to nearly VND59 million (US$2,596) per tael ảnh 1
The Saigon Jewelry Company (SJC) today listed the buying price of VND58 million and the selling price for nearly VND59 million (US$2,596) a tael. At the same time, Hanoi-based Doji Group bought SJC gold at VND58.6 million per tael and sold VND59.2 million per tael, up VND250,000 per tael in buying price and selling one.

In the global gold market, gold traded at US$1,823 at 10 AM on November 9 in the Asian market.

After converting, this price is equivalent to nearly VND50 million per tael, VND9.3 lower than SJC one a tael.

According to world financial experts, in the context of rising inflation in the US, the dollar depreciated compared to many other strong currencies. Along with that, the US bond interest rate also decreased from 1.53 percent a year to 1.48 percent a year, so businesspersons expected a strong cash flow into the gold market. This is the reason why gold prices jumped sharply.

In related news, Vietnam's stock market after three consecutive sessions rising to a new peak, Vietnam’s benchmark VN-Index saw a slight decline in the trading session on November 9 following strong profit-taking pressure of investors.

At the end of the session, VN-Index dropped 6.07 points or 0.41 percent to close at 1,461.5 points. On the smaller bourse in the North, the HNX-Index advanced 0.12 percent to close at 148.93 points. Though market liquidity decreased by 3.5 percent compared to the previous session, it still remained high with a total trading value of VND36,000 billion.