The Saigon Jewelry Company announced Monday its gold price increased by VND250,000 (US$14.7) per tael to VND17.1 million ($1,000) from Saturday’s closing price of VND16.85 million ($994).
Gold prices on the global market also rose $16.85 per ounce Monday to $817.85 per ounce. A tael is 1.2 ounces.
The Vietnam Export-Import Commercial Joint Stock Bank, known as Eximbank, said the global gold price had risen as a result of increased demand. About 840 tons of gold will be consumed globally in the year’s fourth quarter, as some Asian countries, including India and China, start to hold festivals.
