The price of the Saigon Jewelry Co.’s precious metal in Ho Chi Minh, Da Nang, Nha Trang, and Can Tho cities jumped to VND20.9 million a tael (1.2 ounces). In Ha Noi and northern provinces, gold fetched VND20,000 more. The company bought gold at VND20.82 million a tael.
Sacombank Jewelry Co. bought gold at VND20.72 million a tael, an increase of VND80,000, and sold gold at VND20.85 million a tael, up VND150,000.
Most gold trading floors fixed the opening price at VND20.6 million a tael. Investors continued buying gold, pushing gold prices slightly up.
The global gold price hiked sharply May 28, as the US’s economic indexes showed a better economic situation than expected.
Gold surged to US$964.7 an ounce, the highest since March 20. Investors expect gold to soon hit its record price this year at $1,000 an ounce, made in the end of February.