Local gold prices maintained their upward trajectory to pass historic highs on the morning of July 24, exceeding VND55 million per tael following the sharp increase in the global gold market, which is currently close to $1,900 per ounce.
At the opening of the morning trading session, the Saigon Gold and Jewellery Company listed each tael of SJC gold at VND53.50 million and VND54.82 million for buying and selling, respectively.
Minutes later, the gold firm adjusted the prices, quoting SJC gold at VND53.9 million per tael for buying and VND55.09 million per tael for selling, therefore breaking all previous records.
Bao Tin Minh Chau, one of the nation’s leading gemstone brands, moved to record its gold at between VND54.40 million and VND55.40 million per tael by noon, marking rises of VND1.2 million per tael in terms of both the buying and selling prices in comparison to yesterday’s trading session.
This comes after the price of the precious metal rapidly increased in the global market.
The world’s gold prices at 6am on July 24 hovered around $1,888 per ounce, representing a rise of $20 per ounce against the previous day.
Despite this growth, prices showed a slight decrease of 0.10 percent to $1,884.8 per ounce. At 6:30am global gold prices on Kitco.com dropped by 0.39 percent to $1,882.95 per ounce, marking a decrease after several days of consecutive increases.
Furthermore, gold rose beyond the $1,800 per ounce mark largely as a result of bulls on the commodity having increasing concerns regarding a new wave of novel coronavirus infections as well as increasing stimulus measures in an effort to mitigate the negative economic effect of the pandemic, according to experts.
In the forex market, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) listed the exchange rate at VND23,060 per $1 for buying and VND23,270 per $1 for selling on July 24, seeing no change from the previous trading session.
https://english.vov.vn/economy/gold-prices-break-vnd55 million-ceiling-to-reach-record-high-416473.vov
