Gold inches up in Vietnam, widens gap with global prices

Local gold prices in increase while it is down in the world (Photo: C. Tuong)
Gold prices increased by VND800,000 on May 14 to hit a two-month high even as they inched down in the global market.

The bid and ask rates for bullion from Saigon Jewelry Co (SJC), Vietnam’s biggest producer, were VND36.4 million VND36.7 million a tael (37.5 grams) yesterday.

They were VND36.35 million and VND36.7 million at DOJI Corporation outlets.

Meantime, global prices fell slightly to US$1,296 an ounce.

Vietnamese prices have always been higher, and with this the gap widened to VND3.75 million a tael at the Vietcombank exchange rate.

By T. Mai - Translated by Uyen Phuong

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