Gold continues to make new record, VN-Index gains nearly 12 points

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The price of gold in Vietnam continued to enhance VND400,000 per tael on July 9.
Saigon Jewelry Company bought gold at VND50.35 million per tael and sold at VND50.77 million per tael, an increase of VND400,000 per tael in both buying and selling prices compared to the previous day, in late-afternoon in Ho Chi Minh City.

At the same time in Hanoi, Bao Tin Minh Chau Jewelry Company also raised the price of SJC gold by VND300,000 per tael in buying rate and VND390,000 per tael in selling rate to buy at VND50.35 million per tael and sell at VND50.62 million per tael.

In the global market, the precious metal also surpassed a nine-year high to above US$1,800 an ounce. This is the first time since 2011 that bullion has skyrocketed to above $1,800 an ounce as investors were cautious with stocks and the Covid-19 pandemic remained complicated.

In related news, the VN-Index extended the winning streak for five consecutive trading sessions on July 9 as the market liquidity increased by more than 20 percent. Of which, banking shares strongly attracted the cash flow with HDB surging 4.4 percent, VPB rallying 4.3 percent, and TCB strengthening 4.2 percent. Besides, the main motivation that helped the index to highly jumped was SAB with an increase of 6.2 percent to trade at VND205,000 per share, adding up nearly 12 points to the benchmark.

Vietnam’s benchmark VN-Index soared 11.96 points, or 1.38 percent, to close at 876.46 points with 288 stocks increasing, 92 decreasing, and 51 moving flat.

The HNX-Index gained 1.79 points to close at 116.16 points with 95 winners and 57 losers.

Market liquidity rose by 22.5 percent compared to the previous trading session to above VND6 trillion.

By Nhung Nguyen – Translated by Thuy Doan

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