Gold strengthens by more than VND1.6 million per tael

Saigon Jewelry Company bought gold at VND56.5 million per tael and sold at VND58.15 million per tael, an increase of VND1.4 million per tael in buying rate and VND1.65 million per tael in selling rate compared to the previous day, at 5 p.m. on August 18.

At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company listed the price of SJC gold at VND56.92 million per tael for buying and VND58.18 million per tael for selling.

In the global market, the precious metal jumped to US$1,987 an ounce, up around $50 an ounce compared to the previous trading session, at 9 a.m. Vietnamese time. After conversion, this price level was equal to VND55.7 million per tael. 

The domestic gold price was around VND2.5 million per tael higher than the global gold price.