Gold prices hit record high

After reducing from the high of VND37.5 million per tael late afternoon yesterday, SJC gold prices increased by nearly VND1 million this morning and continued escalating to approach VND38.5 million.

At 9:30 a.m. this morning in HCMC, a tael of SJC gold was purchased at VND37.3 million and sold at VND38 million. In Hanoi, DOJI Group posted selling price at VND38 million and buying price at VND37.5 million.

At noon, the buying and selling prices in HCMC hiked by VND1.35 million and VND1.5 million to hit VND37.7 million and VND38.4 million. In Hanoi, the prices were up VND1.3 million and VND1.4 million to reach VND37.85 million and VND38.3 million.

The difference between buying and selling prices were expanded by businesses to the maximum level of VND700,000 a tael.

Within less than two weeks since Britain's vote to leave the European Union, domestic prices of yellow metal has soared a total of VND4.5 million. The prices continuously hit three highs of VND36, 37 and 38 million per tael on the first two days of July.

As domestic gold prices increased faster than world prices on Monday and Tuesday, SJC gold prices have reversed from lower than the world level to VND1.6 million higher than the world prices.

By Hanh Nhung – Translated by Hai Mien

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