Vietnam gold prices reach VND38 million/tael – June 06

SJC gold in Ho Chi Minh City was listed at VND37.94-38 million per tael on the morning of June 6.

In Hanoi, the prices of SJC gold went up to VND37.94-38.02 million per tael, while Bao Tin Minh Chau gold was bought at VND37.89 million per tael and sold at VND37.99 million per tael. SBJ gold was traded at VND37.93 and VND38.01 million per tael.

Economists say that the fluctuations in the domestic gold market were caused by the soaring gold prices on the world market. In addition, investors still buy gold for reserve rather than send their money to the bank for deposit interest rates.

By 8.30am on June 6, gold prices on the world market had reached US$1,546.2 per ounce, up by US$4 per ounce compared to the previous days’ transactions.

Meanwhile, the exchange rate between the USD and the EUR fell by 0.0135 percent, according to Bloomberg. The weak value of the US dollar against the Euro was attributed to the European Union’s new aid package for Greece which is aimed at preventing the spread of the debt crisis across the region. – VOV

Tags: Vietnam gold prices

Posted by VBN on Jun 6 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