Gold comes near VND50 million per tael

SGGP
The price of gold in Vietnam continued to climb and hit a new record when reaching nearly VND50 million per tael (1.2 ounces) on July 6.
Saigon Jewelry Company bought gold at VND49.59 million per tael and sold at VND49.97 million per tael at 4 p.m. Vietnamese time in Ho Chi Minh City.

At the same time in Hanoi, SJC gold was bought at VND49.59 million per tael and sold at VND49.99 million per tael, an increase of VND100,000 per tael compared to last weekend.

In the global market, gold slid US$5 an ounce to trade at $1,770 an ounce on the Kitco trading floor at noon Vietnamese time. After conversion, the global gold price was around VND200,000 per tael lower than the domestic gold price.

In related news, as the cash flow returned to Vietnam’s stock market, the VN-Index surpassed 860 points on July 6. The benchmark gained 13.55 points, or 1.6 percent, to close at 861.16 points with 251 stocks advancing, 116 retreating, and 66 remaining unmoved.

The HNX-Index of the smaller bourse in the North rallied 1.52 points or 1.36 percent, to finish at 113.07 points with 91 winners and 48 losers.

Market liquidity exceeded VND4.8 trillion, up nearly 15 percent compared to the previous trading session.

By Nhung Nguyen – Translated by Thuy Doan

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