World gold prices continued to rise sharply causing a spike in domestic prices that reached pushed the precious metal to its highest level during the last three months.
On February 17, domestic gold officially traded at VND27.05 million per tael, an increase of VND670,000 per tael compared with last weekend, while world gold prices climbed to US$1,118.7 per ounce (1.2 taels), an increase of $28.3 per ounce.
However, most gold businesses were still closed for the Tet holiday.
In Ho Chi Minh City, the Saigon Jewelry Holding Company, was buying gold at VND26.32 million per tael and selling it at VND26.42 per tael.
In Hanoi, the price of SJC gold at the Bao Tin Minh Chau Company was VND26.45 million per tael, while it was purchasing it at VND26.21 million per tael.
One gold shop owner said that despite a sudden jump in gold prices, trading remained brisk at the few shops open during the Lunar New Year holiday.
Most gold businesses are set to open on Thursday, February 18.
