Gold continues its meteoric rise to new high

The domestic gold price on August 3 rose to VND41.3 million per tael as the world spot gold price hit US$1,675 per ounce.

Domestic gold shops constantly updated their buying and selling prices up to 15 times during the day.

On the afternoon of August 3, Phu Quy company’s gold shop on Tran Nhan Tong Street in Hanoi posted its buying and selling prices at VND41.1 and VND41.3 million per tael, respectively. Meanwhile, Bao Tin Minh Chau company set its prices at VND41.12 million and VND41.3 million.

The same day in Ho Chi Minh City, Sai Gon Jewellery (SJC) listed its prices at VND41.17 million and VND41.3 million at 1.30 pm and Sacombank (SBJ) posted its prices at VND41.16 million and VND41.29 million.

In the world market, economic experts expected gold to fall after August 2, when the US Congress reached an agreement on the debt ceiling. However, the price of this precious metal remained high as investors were largely enthusiastic about gold. - Vietnamplus

Tags: Gold analysis, Gold investment, Gold news, Gold price, Gold price forecast, gold prices, Silver price, silver prices

Posted by VBN on Aug 4 2011. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry