Vietnam gold price edges up to VND38.1 mln/tael

Local gold prices Monday rose VND120,000 to VND38.1 million a tael as the global gold edged up to US$1,546 an ounce.

But the domestic gold price is still VND300,000 a tael lower than that in international markets.

The gold price increases as the value of US dollars is lower than other currencies as the US economy is estimated to sharply decline in the last six months of the year.

Investors are boosting up to buy gold as they worry about the US economy, EU debt crisis, and the increasing inflation in China.

Many domestic gold companies are stepping up the purchasing of gold for export purposes. – Tuoitre

Tags: vietnam gold, Vietnam gold market, Vietnam gold prices

Posted by VBN on Jul 12 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