The price of gold in Vietnam slightly rose on October 17 as global price added small rise on the international market.

Customers buy gold at a gold shop. (Photo: SGGP)

Sacombank Jewelry Company bought gold at VND44.11 million and sold at VND44.29 million as of 10:30 am local time.

Saigon Jewelry Company, the biggest gold shop in Vietnam, quoted the price at VND44.1 million for buying and VND44.3 million for selling.

Hanoi-based Phu Quy Jewlery Company purchased SJC-brand gold at VND44.2 million and sold at VND44.4 million at the same time.

Domestically, gold fetched VND2 million a tael higher than global price.

The interbank exchange rate stood at VND20,708 per dollar, an increase of VND20 per dollar over last Friday. Vietcombank bought dollars at VND20,910, and sold at VND20,915. Meanwhile, the rate was declining on free market. The greenback was bought at VND21,380 per dollar, and sold at VND21,430 per dollar, a decrease of VND20 per dollar over last Friday.

Internationally, spot gold was traded at US$1,681.8 an ounce, up $0.5 an ounce over the closing price in New York last weekend at 11 am Vietnamese time.

Last week, gold set the strongest weekly gain since the beginning of September with a rise of 2.5 percent on expectation that European leaders would draw specific solutions to resolve the region’s sovereign-debt crisis in the summit meeting at the end of this week.

Crude oil futures gained $0.18 a barrel to trade at $86.98 a barrel on the New York Mercantile Exchange at 11:45 am Vietnamese time.

The euro exchange rate against the US dollar was above $1.38 a euro at  the same time.