Saigon Jewelry Gold Co. (SJC) slipped by VND20,000 a tael (1.3 ounces) over Saturday to close at VND11.45 million (roughly US$718) on April 9.
Also, the global gold price saw the highest increase over the past 25 years when it rocketed to US$598 an ounce from US$582.9 early last week, but then slipping dramatically to US$589.4 an ounce on April 8.
The gold price fixed to deliver in the international market in June 2006 is set at US$601.9 an ounce.
Experts predict the global gold price early this week will be from US$575 to US$580 an ounce, then to US$600 an ounce because of the rising demand for gold reserve of many international banks in Asian countries, especially in China.
However, the global gold price can also exceed US$600 an ounce due to the world’s geopolitical tensions or the increasing purchasing power of gold speculators, said an expert.