Gold price continues to set records

The world’s gold price continues to establish new records, pulling the domestic gold price up sharply on Monday afternoon.

Saigon Jewellery Holding Company (SJC) as of 3pm on Monday quoted its spot price at 28.65 million dong a tael, up 200,000 dong compared with the closing price the previous week. A tael is equal to 1.2 troy ounces.

At some stores in Tan Dinh and Ben Thanh areas in HCM City, the highest spot price was 28.77 million dong a tael on Monday.

Meanwhile, Phu Nhuan Jewellery Joint Stock Company (PNJ) quoted its spot price at 28.65 million dong a tael.

In Hanoi, Bao Tin Minh Chau Jewellery Co offered its Rong Thang Long gold at 28.65 million dong a tael.

Nguyen Ngoc Trong, director of the Business Department at PNJ, said his company had to change its spot price seven times a day because of strong fluctuations.

The gold price in the European market at 3 p.m. Vietnamese time rose to its highest so far, at $1,265.2 an ounce, up $8.7 over the morning. The gold price hike on Monday was attributed to China’s decision on its currency, according to Reuters.

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