Domestic gold price surges following global market fluctuation

The domestic gold price has risen slightly on these days following a sudden surge in the global price that occurred on May 7, due to the debt crisis of Greece and stock market crash in Wall Street.

At a gold store in Ho Chi Minh City's District 1. The domestic gold price has risen slightly on these days following a sudden surge in the global price on May 7 (Photo: SGGP)

The global price of gold soared to US$1,213 per ounce on May 7 from US$1,210 on May 6 while the SJC gold price climbed to VND27.25 million per tael, up VND520,000 (US$27.4) from the price of a day ago.

Today (Monday), a tael of SJC gold went for VND27.37 million.
 
Economists forecast that gold price will keep on a rise.
 
Since Hanoi merchants have rushed to sell gold, economists warned that if people continue to sell at such a high volume, the price will soar sharply in coming days.
 
The US dollar price has also increased slightly on the Vietnamese market. 

By Vu Bach – Translated by Hoang Yen

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