After successive days of reduction, the domestic gold price restarted its rally growth on Tuesday, which was attributed to the rise in global gold price.
Gold traded at the Ho Chi Minh City-based gold enterprise Sai Gon Jewelry Company (SJC) was priced at VND12.36 million a tael.
Meanwhile, the Phu Nhuan Jewelry Company (PNJ) gold price was at VND12.35 million a tael, increasing by VND200,000 over Monday.
The global gold price continued to fluctuate strongly Tuesday, reaching even US$625 an ounce within the day, an increase of over US$10 an ounce over the previous days.
In the New York market, the gold price fixed to deliver in the international market in December 2006 is set at US$636.6 an ounce.
According to many experts, the sky-rocketing of both global and domestic gold prices was one of the side-effects of Iran’s recent announcement of its nuclear program.