Domestic gold prices skyrocketed to VND47.7 million per tael today, March 25, following the strong rise in global yellow metal prices last night.
Eximbank raised gold prices this morning, buying SJC-branded gold at VND46.9 million per tael and selling it at VND47.7 million per tael, up VND500,000 per tael.
The selling price of SJC gold bars at MaritimeBank stood at VND47.8 million per tael, up VND450,000 per tael against the previous session, but they were bought at VND45.7 million per tael, down VND750,000 per tael, the local media reported.
Phu Nhuan Jewellery Company (PNJ) hiked the buying price by VND300,000 per tael to VND46.4 million and the selling price by VND600,000 to VND47.6 million per tael on March 25, while Hanoi-based Doji Group bought gold at VND46.7 million per tael, up VND100,000 versus the previous session, and sold it at VND47.5 million per tael, down by VND1000,000.
The price of the yellow metal on the global market skyrocketed by over $100 per ounce versus the previous session to $1,689 last night.
Experts noted that this is a good time to invest in gold, predicting that the global gold price will continue to soar to $2,000 per ounce in the next 12 months.
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