Gold Price to Exceed US$625 An Ounce: Experts

Saigon Jewelry Gold Co. (SJC) gold price on April 17 closes at VND11.84 million a tael, an increase of VND120,000 (US$7.5) to Saturday. Meanwhile, the global gold price reaches US$606.1 an ounce.

The global gold price has increased by 16% from early this year, 41% compared with the same period of 2005, and nearly twofold over 2002.

Thus, the domestic gold price is increasing faster than the global one, the domestic gold price has been up by VND11.87 million a tael from early this year while the figure in the global market is VND11.64 million a tael, equal to US$86 an ounce.

Experts predict the global gold price would reach US$625 an ounce. Moreover, many financial analysts believe the gold price could rocket to US$800 – 850 an ounce within the next 18-20 months.

The gold price fixed to deliver in the international market in June 2006 is currently set at US$608.4 an ounce.

Source: SGGP –Compiled by: Trong Khuong

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