Gold Price Sets New Record

Customers can buy gold at the current price and receive the metal after one week (Photo:T.K)

Gold price on April 18 continues to go up, exceeding VND12 million per tael.

Saigon Jewelry Gold Co. (SJC) gold price on April 18 closed at VND12.16 million a tael, reportedly even reached to VND12.20 million, increasing by VND320,000 a tael compared with the previous day and by VND2.31 million from early this year.

The global gold price climbed to US$616.95 an ounce, increasing by US$10 in comparison with two days ago.

Experts believe that the precious metal is inching closer to a record high of US$625 per ounce late 2006, climbing by US$100 an ounce from that of early 2006.

Investors continue to chase the yellow metal despite the exorbitant price. The global price being VND50,000 per tael lower than the domestic rapidly rising price leads to the fact that many dealers immediately fix the highest different price to import the metal.

Many traders allow customers to buy at the current price and receive the metal after one week (on April 25). Particularly, Kim Hoan Viet Company, branch No.1 of the SJC sold out 1,300 teals on Tuesday.

By TN - Translated by Van Hanh

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