JavaScript is off. Please enable to view full site.

Vietnam’s gold prices jump to six-year high on global surge

Saturday, June 22, 2019, 12:28 GMT+7
Vietnam’s gold prices jump to six-year high on global surge
A customer sells gold at a gold shop in Ho Chi Minh City on June 22, 2019. Photo: Ngoc Phuong / Tuoi Tre

Gold traded above VND39 million (US$1,680) a tael in Vietnam on Friday, the highest level since June 2013, as the precious metal surpassed the key US$1,400 level for the first time in nearly six years in the global market.

Gold prices quoted by most Vietnamese gold companies have climbed more than VND1 million (US$43) per tael in the last two days. (VND1 million = US$43)

A tael is the most common weight measure of gold in Vietnam, which equals 37.5 grams.

On Friday, SJC, Vietnam’s largest gold bar trader, quoted a selling price of VND39.05 million a tael in the morning trading session, before lowering it to VND38.6 million per tael in the afternoon. The company’s buying prices were VND38.35 million in the morning and VND38.75 million in the afternoon.

In Hanoi and the central city of Da Nang, gold prices went down to VND38.35 million a tael for buying and VND38.62 million a tael for selling on Friday afternoon.

In Vietnam, people have been rushing to gold trading businesses to sell their precious metal over the past few days thanks to the price surges.

In the global market, spot gold hit its highest since September 2013 at $1,410.78 an ounce on Friday, before closing the day at $1,388. Gold futures for July 2019 delivery recorded on Comex of the New York Mercantile Exchange were at $1,407 an ounce.

Those gains were buoyed by signals of an interest rate cut by the US Federal Reserve as early as next month, which sent the U.S. dollar lower against most currencies. Global gold prices usually climb every time the Fed announces cuts to interest rates

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Tuoi Tre News


Read more




Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Latest news