JavaScript is off. Please enable to view full site.

Gold prices continue shattering records in Vietnam

Tuesday, July 28, 2020, 15:50 GMT+7
Gold prices continue shattering records in Vietnam
People trade gold at a gold company in Ho Chi Minh City, Vietnam, July 2020. Photo: Ngoc Phuong / Tuoi Tre

Gold prices reached a new all-time peak of VND58 million (US$2,500) per tael in Vietnam on Tuesday morning after the precious metal had skyrocketed to $1,980 per ounce in the global market.

DOJI, Vietnam’s largest jewelry company, sold SJC gold, the national brand, at VND58 million per tael and asked for VND56.5 million ($2,435) per tael early Tuesday.

One tael of gold equals 37.8 grams.

Meanwhile, the prices of gold listed at other gold firms were quite comparable.

The rise in domestic gold prices can be attributed to the impact of the global market which saw rates surge to $1,972.7 per ounce as of 8:45 am Tuesday.

The precious metal had previously risen 1.6 percent to a record high of $1,943 per ounce globally on Monday, surpassing its gains in September 2011, according to Reuters.

A lot of factors were in play for markets, said Shafali Sachdev, the head of FX Asia at BNP Paribas Wealth Management in Singapore, from U.S.-China tensions to a second wave of coronavirus outbreaks, Reuters reported.

Vietnam’s gold prices topped VND53 million ($2,286) per tael for the first time in history on Wednesday last week.

The upward trend is expected to continue in the next few days, according to experts.

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

Tuoi Tre News

Read more

;

Photos

VIDEOS

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.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news